Deduction for higher education expenses - limited allowance for eligible low-income individuals for dependents' specified professional courses. Provides a tax deduction for individuals who expend income on full time education of dependents, subject to an income eligibility threshold, prescribed fixed deduction amounts by course type (higher amounts for certain professional degrees and lower amounts for other degrees or specified diplomas), a limit to deductions for no more than two dependents per year, a definition of dependent as a child, brother or sister mainly dependent on the individual, and recognition of certain equivalent qualifications for entitlement.