Student Mental Health Rights Act This bill addresses mental health and substance use at institutions of higher education (IHEs). Specifically, the bill requires the Department of Education (ED) to conduct a study on mental health conditions and substance use conditions at IHEs. In addition, ED must issue guidance on IHEs' (1) compliance with federal law on mental health, (2) legal obligations to students with mental health conditions and students with substance use conditions, and (3) policies which may have a disparate impact on such students.