113 HR 5577 IH: To amend the Higher Education Act of 1965 to eliminate origination fees for Federal Direct Loans. U.S. House of Representatives 2014-09-18 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I 113th CONGRESS 2d Session H. R. 5577 IN THE HOUSE OF REPRESENTATIVES September 18, 2014 Mrs. Davis of California introduced the following bill; which was referred to the Committee on Education and the Workforce A BILL To amend the Higher Education Act of 1965 to eliminate origination fees for Federal Direct Loans.

1.

Elimination of origination fees for Federal Direct Loans

(a)

Sense of Congress

It is the sense of Congress that no origination fees should be charged on any future Federal Direct Loans. (b)

Repeal of origination fees

Subsection (c) of section 455 (20 U.S.C. 1087e(c)) is repealed. (c)

Effective date

The amendment made by subsection (b) shall apply with respect to loans made under part D of title IV of the Higher Education Act of 1965 (20 U.S.C. 1087a et seq.) for which the first disbursement of principal is made, or, in the case of a Federal Direct Consolidation Loan, the application is received, on or after July 1, 2015.