Section 1. Short title
This Act may be cited as the Student Loan Tax Elimination Act.
(a) Repeal of origination fees
Subsection (c) of section 455 of the Higher Education Act of 1965 (20 U.S.C. 1087e(c)) is repealed.
(b) Effective date
The amendment made by subsection (a) 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 following the date of enactment of this Act.