There is one summary for this bill. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (03/18/2003)

College Affordability and Lifetime Savings Act - Amends the Internal Revenue Code to: (1) convert the current deduction for interest on education loans to a credit equal to 50 percent of the interest paid during the taxable year on any qualified education loan; and (2) exclude from gross income amounts which would be included under specified loan forgiveness programs for teachers and other public servants.