Federal Loan Systems Modernization Act of 2026

Key Points

• This bill creates a new centralized website called Lending.gov where people can apply for and manage loans from different federal agencies in one place, replacing today's fragmented systems spread across dozens of agencies.
• Nearly all federal loan programs would be required to move onto the new platform within three years, covering any program that issues more than 50 loans a year or handles more than $10 million in total lending.
• The system would use modern commercial software to speed up applications, catch fraud, and improve customer service — replacing the outdated technology many agencies currently rely on.
• To fund ongoing operations, the platform can charge a small fee of up to 0.25% on the face value of each loan, but individual borrowers get extra protection — the fee can't be passed to them unless an agency certifies it won't hurt affordability or access.
• The General Services Administration oversees the project and must conduct annual satisfaction surveys of agency staff. If performance falls below set thresholds, the provider must create and implement a fix-it plan within 60 days.