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S 2984 117th Congress Senate 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: October 7, 2021 Introduced by: Murkowski, Lisa Republican · Alaska See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 7, 2021
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Oct 7, 2021
Introduced in Senate
 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 October 7, 2021

Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

 Committees of jurisdiction 1
 Cosponsors 3
All 3 Democratic 1 Republican 2