H.R. 8243, the “State-Based Education Loan Awareness Act,” proposes changes to the Higher Education Act of 1965. It aims to exclude state-based education loan programs from certain federal requirements typically associated with preferred lender arrangements. The bill defines these state-based...
Simple Explanation
The law wants to let certain student loan programs run by states or nonprofits follow easier rules, as long as their loans have good interest rates like federal loans, and schools remind students they can get federal help first.