S. 4097 · 119th Congress
State-Based Education Loan Awareness Act
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R
MurkowskiSponsor6 cosponsors · 2 D, 4 R
3 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill excludes certain arrangements or agreements regarding education loans from the definition of a preferred lender arrangement .
What it does: CRS summary · Introduced in Senate · Mar 16, 2026
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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: State-Based Education Loan Awareness Act
Latest action (Aug 4, 2026): Placed on Senate Legislative Calendar under General Orders. Calendar No. 539.
Policy area: Education · Origin: Senate · Introduced: Mar 16, 2026
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.