Montana could lose an estimated $350 million in federal funding — money that goes largely to student loans and Pell grants — if a bill that aims to regulate transgender athletes becomes law, according to the Montana Office of the Commissioner of Higher Education.

Ali Bovingdon, chief legal counsel for the Commissioner’s Office, said Thursday the university system plans to oppose that bill in the Senate. Rep. John Fuller, R-Whitefish, sponsored House Bill 112, which would require transgender female athletes to participate on a men’s team instead of a women’s team.