Student Loan Tax Elimination Act

This bill repeals origination fees charged on new Federal Direct Loans under the Higher Education Act. It directly affects borrowers who take out new federal student loans through the Direct Loan program, eliminating an upfront fee they previously paid. The change takes effect for loans with their first disbursement or consolidation applications received on or after July 1 following the bill's enactment. The bill focuses solely on removing this specific fee, not on tax changes as the title suggests.