,,ii  #aag? ,,congress  #a/ ,session    
,s4 #bihd  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,octob] #g1 #bjba,ms4  
,murk[ski 7= h]self1 ,mr4 ,re$1 ,mr4    
,braun1 & ,mr4 ,hoev57 introduc$ !      
foll[+ bill2 :i* 0 read twice & ref]r$  
to ! ,committee on ,heal?1 ,education1  
,labor1 & ,p5sions  ,a ,,bill  ,to      
e/abli% t a ,/ate-bas$ education loan   
program is exclud$ f c]ta9 requirem5ts  
relat+ to a pref]r$ l5d] arrangem5t4    
#a4 ,%ort title ,?is ,act may be cit$ z 
! ,/ate-,bas$ ,education ,loan ,aw>5ess 
,act4  #b4 ,/ate-bas$ education loan    
programs ,section #aea ( ! ,high]       
,education ,act ( #aife 7#bj ,u4,s4,c4  
#ajai7 is am5d$-- 7#a7 9 p>agraph       
7#h77;,b7-- 7,a7 9 clause 7i71 by /rik+ 
or aft] ! semicolon2  7,b7 9 clause     
7ii71 by /rik+ ! p]iod at ! end & ins]t+
 a semicolon2 &  7,c7 by add+ at ! end !
 foll[+3  7iii7 arrangem5ts or agreem5ts
 ) respect to education loans made "u a 
,/ate-bas$ education loan program2 or   
7iv7 arrangem5ts or agreem5ts ) respect 

to education loans fund$1 insur$1 or    
gu>ante$ by any o!r ,f$]al ag5cy t is n 
! ,dep>tm5t ( ,education4  2 &  7#b7 by 
add+ at ! end ! foll[+3  7#aj7          
,/ate-bas$ education loan program ,! t]m
 ,/ate-bas$ education loan program means
 an education loan program t-- 7,a7 is  
provid$ by a ,/ate ag5cy1 ,/ate         
au?ority1 or nonpr(it organization1     
sep>ately or jo9tly2  7,b7 makes loans t
 are n fund$1 insur$1 or gu>ante$ by !  
,f$]al ,gov]nm5t2  7,c7 is au?oriz$1    
e/abli%$1 or *>t]$ by ,/ate law1 or     
o!rwise approv$ by ! ,/ate2  7,d7 (f]s  
"o or m loans = :i* ! int]e/ rate &     
fees1 z calculat$ 9 accordance )        
sections #ajf & #ajg ( ! ,tru? 9 ,l5d+  
,act 7#ae ,u4,s4,c4 #afje2 #afjf71 are  
at lea/ z favorable z ! int]e/ rate &   
fees ( ! ,direct ,,plus loans au?oriz$  
"u "p ,d ( title ,,iv at ! "t su* loan  
is orig9at$2 &  7,e7 is available only  
to a borr[] :o has be5 advis$ by an     
in/itution ( high] education 7z def9$ "u
 section #ajb7-- 7i7 t ! borr[] has !   

opportunity to exhau/ eligibility =     
,f$]al education loans made "u "p ,d (  
title ,,iv prior to accept+ a private   
education loan2 &  7ii7 ( ! int]e/      
rates1 fees1 & b5efits ( su* ,f$]al     
education loans1 includ+ income-driv5   
repaym5t options1 opportunities = loan  
=giv5ess1 =be>ance or def]m5t options1  
int]e/ subsidies1 & tax b5efits4  4