Skip to main content
HR 7588 117th Congress House Education Government lending and loan guarantees Higher education Interest, dividends, interest rates State and local government operations Student aid and college costs

State-Based Education Loan Awareness Act

Introduced: April 26, 2022 Introduced by: Sessions, Pete Republican · Texas See on congress.gov
Sign in to write a letter Sign in to watch
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 26, 2022
Referred to the House Committee on Education and Labor.
Apr 26, 2022
Introduced in House
 Plain-English summary Congressional Research Service

State-Based Education Loan Awareness Act

This bill excludes certain arrangements or agreements regarding education loans from the definition of a preferred lender arrangement.

A preferred lender arrangement is an arrangement or agreement between a lender and an institution of higher education (IHE) that receives federal funding or assistance (1) under which a lender issues education loans to students attending the IHE; and (2) that relates to the IHE recommending, promoting, or endorsing the education loan products of the lender.

The bill provides that arrangements or agreements made under a state-based education loan program or that are funded, insured, or guaranteed by any federal agency other than the Department of Education do not meet the definition of a preferred lender agreement for purposes of certain required disclosures to student borrowers.

What's happening now April 26, 2022

Referred to the House Committee on Education and Labor.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1