Grad Students Won't Fare Well With House Tax Plan

One group may see a huge tax hike: grad students. The House version of the tax plan wants to nix certain tax credits, including the student loan interest deduction. But it does include some tax breaks, including an increase in the standard deduction. Some of these breaks would disappear over time. But the New York Times reported that most taxpayers would benefit in the short-term, especially the wealthiest taxpayers.