This legislation aims to remove origination fees from Federal Direct student loans. It achieves this by repealing subsection (c) of section 455 of the Higher Education Act of 1965, which currently authorizes these fees. The elimination of these fees would apply to all new Federal Direct loans for which the first disbursement occurs on or after July 1 following the bill's enactment. Additionally, Federal Direct Consolidation Loans applied for on or after this date would also be exempt from origination fees, thereby reducing the upfront cost of federal student borrowing for eligible individuals.