Eliminating the Hidden Student Loan Tax Act

2015-03-04

Introduced in House

Eliminating the Hidden Student Loan Tax Act

Expresses the sense of Congress that no origination fees should be charged on any future loans under the William D. Ford Federal Direct Loan program. (Origination fees are the fees lenders charge for processing new loan applications.)

Amends title IV (Student Assistance) of the Higher Education Act of 1965 to repeal the Secretary of Education's authority to charge an origination fee on a Direct Loan first disbursed, or, in the case of a Direct Consolidation Loan, for which an application is received, on or after July 1, 2015.

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