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United States · Bill · S

S. 3054 (116th)

State-based Education Loan Awareness Act

referredUnited States· United States Congress· EN

Introduced

16 December 2019

Last action

Status

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

Sponsors

Subjects

Discovery layer

Source updated

21 April 2025

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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Documents

3 official files

Introduced in Senate (text)

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