# 119-s-3980: Federal Loan Systems Modernization Act of 2026

119-s-3980, Federal Loan Systems Modernization Act of 2026, is a 119th Congress bill sponsored by Sen. Blackburn, Marsha [R-TN] (R-TN); status introduced; PRIA reads it as touching household money (as of 2026-04-21).

- Canonical: https://policyrisk.com/legislation/119-s-3980
- As of: 2026-04-21
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-s-3980
- Congress: 119
- Title: Federal Loan Systems Modernization Act of 2026
- Status: introduced
- Introduced: 2026-03-04
- Sponsor: Sen. Blackburn, Marsha [R-TN] (R-TN)
- Cosponsors: 1
- Policy area: Finance and Financial Sector
- Touches household money: yes
- Last recorded action: 2026-04-21

## Summary

**Creates a centralized loan platform called Lending.gov to give one place to access Federal loan programs and modernize loan management.** The bill would aim to cut costs, prevent fraud, speed loan origination, improve transparency, and make borrower interactions easier.

## Cosponsors (1)

- Sen. Hassan, Margaret Wood [D-NH] (D-NH), 2026-03-04T00:00:00.000Z

## Provisions PRIA read

- Central federal loan platform: benefit, medium. If enacted, the bill would create a single, government-wide loan platform called "Lending.gov." The Administrator must deliver a plan within 6 months naming a lead agency and estimating costs and timelines. The lead Provider would run and improve the platform, help agencies move their loan systems,…
- Agency loan migration rules: mixed, medium. If enacted, the bill would require agencies to move their loan systems to the new platform on a set schedule. The Director must start migrations within 2 years after the Administrator's plan and agencies must finish within 3 years after enactment unless excepted. Programs that handle more than 50 l…
- New remittance fee on loans: mixed, low. If enacted, the bill would let the Provider charge a remittance fee on each Federal loan it services to fund platform operations. The fee would be capped at 0.25% of the loan's face value unless otherwise authorized. A fee could not be charged on direct loans to individual borrowers unless the agen…

## Related bills

- 119-s-4744: Take Care of America’s Veterans Act
- 119-s-1748: Kids Online Safety Act
- 119-s-1346: Defense Quantum Acceleration Act of 2025
- 119-s-882: Patients Before Middlemen Act
- 119-s-3597: National Quantum Initiative Reauthorization Act of 2026
- 119-s-2461: Promotion and Expansion of Private Employee Ownership Act of 2025

## Sources
- [119-s-3980 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/3980)

## Related
- [119-s-4744: Take Care of America’s Veterans Act](https://policyrisk.com/legislation/119-s-4744)
- [119-s-1748: Kids Online Safety Act](https://policyrisk.com/legislation/119-s-1748)
- [119-s-1346: Defense Quantum Acceleration Act of 2025](https://policyrisk.com/legislation/119-s-1346)
- [119-s-882: Patients Before Middlemen Act](https://policyrisk.com/legislation/119-s-882)
- [119-s-3597: National Quantum Initiative Reauthorization Act of 2026](https://policyrisk.com/legislation/119-s-3597)
- [119-s-2461: Promotion and Expansion of Private Employee Ownership Act of 2025](https://policyrisk.com/legislation/119-s-2461)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-s-3980 (as of 2026-04-21).