A bill to amend the Internal Revenue Code of 1986 to restore the deduction for interest on educational loans.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to allow an income tax deduction for interest paid or incurred on a qualified educational loan. Defines "qualified educational loan" as any indebtedness incurred to pay the educational expenses of the taxpayer or the taxpayer's spouse or dependent. (Present law requires that such a loan be secured by an interest in real property.)…