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II
117TH CONGRESS
1ST SESSION
S. 847
To amend the Higher Education Act of 1965 to eliminate origination fees
on Federal Direct loans.
IN THE SENATE OF THE UNITED STATES
MARCH 18, 2021
Mr. BRAUN (for himself, Ms. SINEMA, Mr. COONS, Mr. HAWLEY, Mr.
WARNOCK, and Ms. WARREN) introduced the following bill; which was
read twice and referred to the Committee on Health, Education, Labor,
and Pensions
A BILL
To amend the Higher Education Act of 1965 to eliminate
origination fees on Federal Direct loans.
Be it enacted by the Senate and House of Representa-
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tives of the United States of America in Congress assembled,
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SECTION 1. SHORT TITLE.
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This Act may be cited as the ‘‘Student Loan Tax
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Elimination Act’’.
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•S 847 IS
SEC. 2. ELIMINATION OF ORIGINATION FEES ON FEDERAL
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DIRECT LOANS.
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(a) REPEAL OF ORIGINATION FEES.—Subsection (c)
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of section 455 of the Higher Education Act of 1965 (20
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U.S.C. 1087e(c)) is repealed.
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(b) EFFECTIVE DATE.—The amendment made by
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subsection (a) shall apply with respect to loans made
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under part D of title IV of the Higher Education Act of
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1965 (20 U.S.C. 1087a et seq.) for which the first dis-
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bursement of principal is made, or, in the case of a Fed-
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eral Direct Consolidation Loan, the application is received,
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on or after March 27, 2020.
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Æ
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