To amend the Higher Education Act of 1965 to eliminate origination fees on Federal Direct loans.
Summary
What This Bill Does
The bill creates short title This Act may be cited as the Student Loan Tax Elimination Act and requires elimination of origination fees on Federal Direct loans Subsection (c) of section 455 of the Higher Education Act of 1965 (20 U.S.C. It relies on tax rate changes and compliance mandates. The main policy areas are Education and Finance.
Who Benefits and How
Financial services firms and customers affected by the bill could face reduced risk and Educational institutions and students affected by the bill could face reduced risk.
Who Bears the Burden and How
Federal, state, or local agencies responsible for implementing the clause would take on compliance duties.
Key Provisions
- Creates short title This Act may be cited as the Student Loan Tax Elimination Act .
- Requires elimination of origination fees on Federal Direct loans Subsection (c) of section 455 of the Higher Education Act of 1965 (20 U.S.C.
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
The bill creates short title This Act may be cited as the Student Loan Tax Elimination Act and requires elimination of origination fees on Federal Direct loans Subsection (c) of section 455 of the Higher Education Act of 1965 (20 U.S.C.
Key Policy Areas
Education, Finance
Primary Purpose
The bill creates short title This Act may be cited as the Student Loan Tax Elimination Act and requires elimination of origination fees on Federal Direct loans Subsection (c) of section 455 of the Higher Education Act of 1965 (20 U.S.C.
Policy Domains
Whole bill
Identified Gains
- Financial services firms and customers affected by the bill
- Educational institutions and students affected by the bill
Identified Costs
- Federal, state, or local agencies responsible for implementing the clause
Sponsors
Legislative Progress
IntroducedMr. Smucker introduced the following bill; which was referred to …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
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