arrow_back Back to App

Elimination of Federal Student Loan Origination Fees

This act aims to remove the upfront fees charged when taking out federal student loans. This means students and graduates who take out these loans will pay less, as they won't have to cover these additional costs. These changes apply to loans where the first disbursement was made or the application was received on or after March 27, 2020.
Key points
No upfront fees: Students will no longer pay additional fees for taking out federal student loans.
Lower loan costs: This can result in a lower total cost of loan repayment, benefiting personal finances.
Effective from March 2020: The changes apply to loans originated on or after March 27, 2020.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_S_847
Sponsor: Sen. Braun, Mike [R-IN]
Process start date: 2021-03-18
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Student Loan Tax Elimination Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_847.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-03-18.

What are the main provisions?

Key points include:

  • No upfront fees: Students will no longer pay additional fees for taking out federal student loans.
  • Lower loan costs: This can result in a lower total cost of loan repayment, benefiting personal finances.
  • Effective from March 2020: The changes apply to loans originated on or after March 27, 2020.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Braun, Mike [R-IN].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Education