A bill to amend title IV of the Higher Education Act of 1965 to establish a system of student tuition advances to be repaid as an income tax imposed by the Internal Revenue Code of 1954, and for other purposes.

Tuition Advance Fund Act - Amends the Higher Education Act of 1965 to authorize the Commissioner of Education to establish a system of undergraduate tuition advances to be repaid as an income tax imposed by the Internal Revenue Code of 1954.

Establishes a trust fund in the United States Treasury for such tuition advance program.