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

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A “Nay” vote

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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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The strongest published arguments

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Officials and money

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

Cost estimate: CBO cost estimate: S. 4097, State-Based Education Loan Awareness Act (2026-10-05)

Cosponsors on this site

Jack Reed (D-RI), Bill Cassidy (R-LA), Jeanne Shaheen (D-NH), Dan Sullivan (R-AK), James Lankford (R-OK), Chuck Grassley (R-IA)

Sponsor's campaign money: Sen. Murkowski, Lisa [R-AK] reported raising $1.4 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

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

Congressional Research Service summary (Introduced in Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-119s4097.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/119/s>

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