Kid's Bank Act

Committee on Labor and Human Resources. Hearings held.

Congressional Research Service

Official summary

Version 00 · Introduced in Senate · Jul 17, 1997

Kid's Bank Act - Amends the Higher Education Act of 1965 (HEA) to include under the definition of an eligible lender a bank that: (1) is a wholly owned subsidiary of a tax-exempt charitable nonprofit foundation; (2) makes HEA student loans only to undergraduate students who are age 22 or younger; and (3) has a portfolio of such loans that is not more than $10 million.

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People & committees

Who introduced it

Sen. Allard, Wayne [R-CO] · R–CO

Committees

Health, Education, Labor, and Pensions Committee

1 cosponsorship records, including any withdrawals

Sen. Campbell, Ben Nighthorse [R-CO]

Legislative record

Actions

A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.

Jul 24, 1997
Committee on Labor and Human Resources. Hearings held.
Jul 17, 1997
Read twice and referred to the Committee on Labor and Human Resources.
Jul 17, 1997
Sponsor introductory remarks on measure. (CR S7718-7719)
Jul 17, 1997
Introduced in Senate

Primary sources

Bill text & related measures

Text links open the official source. We currently store references to these documents.

Introduced in Senate · Jul 17, 1997 Formatted Text PDF

Related bills identified by Congress.gov

HR 2311 · Kid's Bank Act

Source last updated: Aug 21, 2025. Consult Congress.gov for the current record.

AI Conversation Starters

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Neutral evidence review

Objective

Analyze S.1036 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

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Discuss S.1036, 105th Congress: Kid's Bank Act

Official record: https://www.congress.gov/bill/105th-congress/senate-bill/1036

Text version to examine: Introduced in Senate · 1997-07-17.

Official full text: https://www.congress.gov/105/bills/s1036/BILLS-105s1036is.htm

Imported record last updated by the source: 2025-08-21T16:15:00Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Analyze S.1036 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

Fairness and public impact

Progressive lens

Examine S.1036 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

View full prompt & sources

Discuss S.1036, 105th Congress: Kid's Bank Act

Official record: https://www.congress.gov/bill/105th-congress/senate-bill/1036

Text version to examine: Introduced in Senate · 1997-07-17.

Official full text: https://www.congress.gov/105/bills/s1036/BILLS-105s1036is.htm

Imported record last updated by the source: 2025-08-21T16:15:00Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine S.1036 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

Institutions and government scope

Conservative lens

Examine S.1036 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

View full prompt & sources

Discuss S.1036, 105th Congress: Kid's Bank Act

Official record: https://www.congress.gov/bill/105th-congress/senate-bill/1036

Text version to examine: Introduced in Senate · 1997-07-17.

Official full text: https://www.congress.gov/105/bills/s1036/BILLS-105s1036is.htm

Imported record last updated by the source: 2025-08-21T16:15:00Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine S.1036 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

Individual rights and government power

Liberty lens

Examine S.1036 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.

View full prompt & sources

Discuss S.1036, 105th Congress: Kid's Bank Act

Official record: https://www.congress.gov/bill/105th-congress/senate-bill/1036

Text version to examine: Introduced in Senate · 1997-07-17.

Official full text: https://www.congress.gov/105/bills/s1036/BILLS-105s1036is.htm

Imported record last updated by the source: 2025-08-21T16:15:00Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine S.1036 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.