United States 118th Congress Status: In Committee 1 R cosponsors

HR 8243 — State-Based Education Loan Awareness Act

Last action — Referred to the House Committee on Education and the Workforce.

  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 118th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there are no live odds of enactment. It would have to be reintroduced in the current session to move again.

Summary

To establish that a State-based education loan program is excluded from certain requirements relating to a preferred lender arrangement.

Bill Text

How this bill changes current law

4 changes Share ↗

Compared against current U.S. Code AI-generated reading aid — verify against the official bill.

The bill excludes state-based education loan programs from certain preferred lender arrangement requirements.

  • 20 U.S.C. 1019

    or

    Removes the conjunction 'or' from the list of exclusions in preferred lender arrangements to allow for an additional type of arrangement.

  • 20 U.S.C. 1019

    . → ;

    Changes the ending punctuation of the clause to allow for adding further exclusions.

  • 20 U.S.C. 1019

    (iii) arrangements or agreements with respect to education loans made under a State-based education loan program; or (iv) arrangements or agreements with respect to education loans funded, insured, or guaranteed by any other Federal agency that is not the Department of Education.

    Adds exclusions for state-based education loan programs and other federally backed loans outside the Department of Education from preferred lender arrangements.

  • 20 U.S.C. 1019

    (10) State-based education loan program.--The term `State-based education loan program' means an education loan program that-- (A) is provided by a State agency, State authority, or nonprofit organization, separately or jointly; (B) makes loans that are not funded, insured, or guaranteed by the Federal Government; (C) is authorized, established, or chartered by State law, or otherwise approved by the State; (D) offers one or more loans for which the interest rate and fees, as calculated in accordance with sections 106 and 107 of the Truth in Lending Act (15 U.S.C. 1605; 1606), are at least as favorable as the interest rate and fees of the Direct PLUS loans authorized under part D of title IV at the time such loan is originated; and (E) is available only to a borrower who has been advised by an institution of higher education (as defined under section 102)-- (i) that the borrower has the opportunity to exhaust eligibility for Federal education loans made under part D of title IV prior to accepting a private education loan; and (ii) of the interest rates, fees, and benefits of such Federal education loans, including income-driven repayment options, opportunities for loan forgiveness, forbearance or deferment options, interest subsidies, and tax benefits.

    Defines 'State-based education loan program' and outlines its requirements and exclusions.

Action History

  1. Referred to the House Committee on Education and the Workforce.

  2. Introduced in House

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 546 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (546)

546 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

education
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Frequently asked questions

What does HR 8243 do?
To establish that a State-based education loan program is excluded from certain requirements relating to a preferred lender arrangement.
Who sponsors HR 8243?
HR 8243 is sponsored by Sessions, Pete (Republican).
What is the current status of HR 8243?
This bill died with 118th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HR 8243?
Track HR 8243 free on One Click Politics — get push/email alerts when it moves.

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Last checked for changes 2 months ago · updated continuously

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