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Education Act of 1965 (20 U.S.C. 1087e(c)U.S. Code — Title 20, Section 1087e(c)View official source on GovInfo) is repealed.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.U.S. Code — Title 20, Section 1087a and followingView official source on GovInfo) 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.