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S. 4097: State-Based Education Loan Awareness Act

119th Congress · introduced 2026-03-16 · Education · Latest: Placed on Senate Legislative Calendar under General Orders. Calendar No. 539.

federal

What does this mean?

Official title

State-Based Education Loan Awareness Act

Plain 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 do not meet the definition of a preferred lender agreement for purposes of certain required disclosures to student borrowers.

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

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A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

State-Based Education Loan Awareness Act

Source: Congressional Research Service summary (Introduced in Senate)

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Officials and money

Sponsor: Sen. Murkowski, Lisa [R-AK] · 6 cosponsors

Money: CBO cost estimate: S. 4097, State-Based Education Loan Awareness Act (2026-10-05) No linked contracts or vendors yet.

Words on this page, explained (1)
Bill
A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).

Plain meanings written from linked sources. All words.

Sources

Record fed-us-cong119-s4097 · catalog fed-us-congress-bills-cong119 · updated 2026-11-03 by psicol fed-bills