American Science Principal and Interest Reduction and Employment Act or the ASPIRE Act This bill amends title IV (Student Assistance) of the Higher Education Act of 1965 to direct the Department of Education to establish a program to cancel 25% of the outstanding balance of principal due on a Federal Direct Loan made to a student or parent of a student who graduates from an undergraduate STEM program. An undergraduate STEM program is a degree or certificate program related to science, technology, engineering, or mathematics at an institution of higher education.