Student Debt Relief and College Affordability Act This bill makes changes to the Federal Pell Grant program and addresses repayment options, loan disclosures, and loan counseling for student loans. For example, the bill (1) directs the Department of Education (ED) to provide federal student loan forgiveness and cancellation for recipients of Pell Grants, (2) increases the maximum Pell Grant award, (3) terminates interest capitalization and origination fees for Federal Direct Loans, and (4) requires ED to maintain online counseling tools that provide borrowers with entrance and exit student loan counseling.