State-Based Education Loan Awareness Act

Summary

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.

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Timeline

1. 7 October 2021

   Introduced

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

   Source: IntroReferral

2. 7 October 2021

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 7 October 2021 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 7 October 2021

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 7 October 2021

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 7 October 2021

  Open at official source

Sponsors

• Lisa Murkowski · R · Sponsor
• John Reed · D · Sponsor
• Sen. Braun, Mike [R-IN] · R · Sponsor
• John Hoeven · R · Sponsor
• John Boozman · R · Cosponsor
• · sshr00 · Standing

Related records

• related to ← State-Based Education Loan Awareness Act
• related to ← State-based Education Loan Awareness Act