Reform the student loan interest deduction and create a private college endowment tax.Under current law, people with student loans can file for an interest deduction that allows them to deduct up to $2,500 in interest paid towards certain students loans. Under the GOP bill, that deduction would only apply in cases of death or “total and permanent disability.” Given that over 44 million Americans are paying off student debt and three out of 10 of those people file this deduction , it’s a huge loss. And while the private college endowment tax might seem to affect universities themselves more than students, it’s a trickle-down issue: Money from endowments is used to fund financial aid and other student-centric costs, pay for faculty, staff, and research, and build and maintain college properties. If there’s a tax, that could shift financial priorities.Younger women, low-income women, and women with disabilitiesWhile student debt often plagues people decades after school, young people just out of school with less income as well as low-income women are most affected by this provision. Additionally, there isn’t word on what “total and permanent disability” means, so for women who don’t qualify for that but still may not be able to work in a full-time, part-time, or any capacity to pay off loans, the reform could be devastating.