Sponsors (5)
I'll give you the short version of this bill.
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Repeals the statutory requirement that federal Direct student loans carry an origination fee, so borrowers will no longer have that fee withheld from their Federal Direct Loan disbursements. The repeal applies to Direct Loan disbursements and to Federal Direct Consolidation Loan applications that occur on or after the July 1 following enactment, and will require administrative updates by the Department of Education and loan servicers.
Referred to the House Committee on Education and Workforce.
Introduced May 1, 2025 by Lloyd K. Smucker · Last progress May 1, 2025