Passed Legislation to Make College Tuition Tax Deductible for the First Time: Senator Kohl cosponsored S. 458, the Make College Affordable Act, which would allow a tax deduction for college tuition and fees and establish a tax credit for the interest paid during the first 60 months of a student loan. The Tax Cut bill signed into law by the President included a provision modeled after Senator Kohl's legislation. Under the new law, for the first time, students may deduct $4,000 in college tuition costs. Senator Kohl will continue to fight to increase the amount of the deductions and establish the tax credit for student loan interest payments.