Higher Education Affordability and Fairness Act of 2005

[AI summary unavailable — showing source text] Higher Education Affordability and Fairness Act of 2005 - Amends the Internal Revenue Code to increase the tax deduction for qualified higher education tuition and related expenses. Makes such tax deduction permanent. Increases adjusted gross income limits for purposes of determining the allowable amount of the Hope Scholarship tax credit. Directs the Comptroller General of the United States to conduct an annual study to examine whether the Federal income tax incentives to provide education assistance affect higher education tuition rates in order to identify if institutions of higher education are absorbing the intended savings by raising tuition rates. Expresses the sense of the House of Representatives that the maximum Pell Grant should be increased to $4,700 to pay approximately: (1) 20 percent of the tuition, fees, room and board, and other expenses of the average college; or (2) the tuition and fees of the average public college.…