summary
Introduced
06/03/2019
06/03/2019
In Committee
06/03/2019
06/03/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
A bill to amend the Higher Education Act of 1965 to eliminate origination fees on Federal Direct loans. This bill eliminates the origination fee on federal student loans. Origination fees are the fees lenders charge for processing new loan applications.
AI Summary
This bill, the Student Loan Tax Elimination Act, eliminates the origination fee on federal student loans. Origination fees are the fees lenders charge for processing new loan applications. The bill amends the Higher Education Act of 1965 to repeal the origination fee on Federal Direct loans, which are a type of federal student loan. The changes would apply to loans disbursed or consolidated on or after July 1, 2019, effectively eliminating this additional cost for federal student loan borrowers.
Committee Categories
Health and Social Services
Sponsors (6)
Mike Braun (R)*,
Chris Coons (D),
Josh Hawley (R),
Rick Scott (R),
Kyrsten Sinema (I),
Elizabeth Warren (D),
Last Action
Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (on 06/03/2019)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/116th-congress/senate-bill/1696/all-info |
| BillText | https://www.congress.gov/116/bills/s1696/BILLS-116s1696is.pdf |
| Bill | https://www.congress.gov/116/bills/s1696/BILLS-116s1696is.pdf.pdf |
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