Targeted News Service

Sen. Banks Introduces Student Loan Tax Elimination Act

Bill Intros-Senate
Copyright © Targeted News Service, 2026

2026-01-24

Bailey Malota

WASHINGTON, Jan. 24 -- Sen. Jim Banks, R-IN, has introduced the Student Loan Tax Elimination Act, a legislative effort aimed at removing origination fees on Federal Direct loans, thus reducing the financial burden on students pursuing higher education.

The elimination of origination fees is a significant step in making college more affordable for students and their families. Currently, these fees can add hundreds of dollars to loans, affecting the total repayment amount and discoura . . .

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Sen. Banks Introduces Student Loan Tax Elimination Act

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