State-Based Education Loan Awareness Act

Hozzl · 2026-04-15T11:03:27Z

Explore the details of Senate Bill 4097 State-Based Education Loan Awareness Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Education. Stay informed on legislative developments.

4/15/2026, 11:03 AM

Summary of Bill S 4097

The bill, designated as S. 4097 in the 119th Congress, aims to establish that a State-based education loan program is exempt from specific regulations concerning preferred lender arrangements. Introduced on March 16, 2026, the bill focuses on addressing requirements related to the operation and oversight of education loan programs at the state level.

Congressional Summary of S 4097

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.

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Current Status of Bill S 4097

Bill S 4097 is currently in the status of Bill Introduced since March 16, 2026. Bill S 4097 was introduced during Congress 119 and was introduced to the Senate on March 16, 2026. Bill S 4097's most recent activity was Committee on Health, Education, Labor, and Pensions. Hearings held. as of March 19, 2026