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117-hr-7588117th Congress

State-Based Education Loan Awareness Act

Sponsored By: Representative Sessions, Pete [R-TX-17]

Unknown

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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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & CoSponsors

Sponsor

Sessions, Pete [R-TX-17]

TX • R

Cosponsors

  • Rep. Williams, Roger [R-TX-25]

    TX • R

    Sponsored 6/24/2022

Roll Call Votes

No roll call votes available for this bill.

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