# 119-s-4097: State-Based Education Loan Awareness Act

119-s-4097, State-Based Education Loan Awareness Act, is a 119th Congress bill sponsored by Sen. Murkowski, Lisa [R-AK] (R-AK); status in_committee; PRIA reads it as touching household money (as of 2026-10-07).

- Canonical: https://policyrisk.com/legislation/119-s-4097
- As of: 2026-10-07
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-s-4097
- Congress: 119
- Title: State-Based Education Loan Awareness Act
- Status: in_committee
- Introduced: 2026-03-16
- Sponsor: Sen. Murkowski, Lisa [R-AK] (R-AK)
- Cosponsors: 6
- Policy area: Education
- Touches household money: yes
- Last recorded action: 2026-10-07

## Summary

**State-based education loan programs** would get a clear legal definition and an explicit place in the Higher Education Act. The bill would also require a Government Accountability Office report within 2 years on how borrowing patterns change after recent student loan law changes. - Students and parents: Would make access to state-based loans conditional on receiving a clear institutional notice to exhaust federal loan options first and to be informed of interest rates, fees, and benefits like income-driven repayment and forgiveness. - States and nonprofit lenders: Would set rules for state programs such as state authorization, no federal funding or guarantees, and interest rates and fees at least as favorable as Direct PLUS loans. - Colleges and financial aid offices: Would need to include specific advisories in financial aid offers about federal loan options and the comparative terms of state-based loans. - Federal oversight and data: Would require a GAO report within 2 years detailing changes in borrowing by source, differences in interest rates, use of multiple loan types, and borrower outcomes like repayment, delinquency, and default, with multiple disaggregations.

## Cosponsors (6)

- Sen. Reed, Jack [D-RI] (D-RI), 2026-03-16T00:00:00.000Z
- Sen. Cassidy, Bill [R-LA] (R-LA), 2026-03-16T00:00:00.000Z
- Sen. Shaheen, Jeanne [D-NH] (D-NH), 2026-03-16T00:00:00.000Z
- Sen. Sullivan, Dan [R-AK] (R-AK), 2026-03-25T00:00:00.000Z
- Sen. Lankford, James [R-OK] (R-OK), 2026-04-14T00:00:00.000Z
- Sen. Grassley, Chuck [R-IA] (R-IA), 2026-05-21T00:00:00.000Z

## Provisions PRIA read

- State-based student loan rules: benefit, medium. This bill would define state-based education loan programs for students and parents. Those programs would be run by a State agency, State authority, or a nonprofit. Loans would not be funded, insured, or guaranteed by the Federal Government. State loans would have to match or beat the interest rate…

## Related bills

- 119-s-1748: Kids Online Safety Act
- 119-s-1241: Sanctioning Russia Act of 2025
- 119-s-339: Nancy Gardner Sewell Medicare Multi-Cancer Early Detection Screening Coverage Act
- 119-sres-913: A resolution relating to the death of the Honorable Nancy Kassebaum, former United States Senator for the State of Kansas.
- 119-sres-897: A resolution honoring the life, service, and legacy of the Honorable Jon Llewellyn Kyl, former Senator for the State of Arizona.
- 119-sres-801: A resolution honoring the life and legacy of the Honorable Lindsey Olin Graham, a Senator from the State of South Carolina.

## Sources
- [119-s-4097 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/4097)

## Related
- [119-s-1748: Kids Online Safety Act](https://policyrisk.com/legislation/119-s-1748)
- [119-s-1241: Sanctioning Russia Act of 2025](https://policyrisk.com/legislation/119-s-1241)
- [119-s-339: Nancy Gardner Sewell Medicare Multi-Cancer Early Detection Screening Coverage A…](https://policyrisk.com/legislation/119-s-339)
- [119-sres-913: A resolution relating to the death of the Honorable Nancy Kassebaum, former Uni…](https://policyrisk.com/legislation/119-sres-913)
- [119-sres-897: A resolution honoring the life, service, and legacy of the Honorable Jon Llewel…](https://policyrisk.com/legislation/119-sres-897)
- [119-sres-801: A resolution honoring the life and legacy of the Honorable Lindsey Olin Graham,…](https://policyrisk.com/legislation/119-sres-801)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-s-4097 (as of 2026-10-07).