S. 2114 · 116th Congress
ISA Student Protection Act of 2019
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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
YoungSponsor3 cosponsors · 2 D, 1 R
3 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill provides for income-share agreements whereby a student agrees to pay a percentage of future income, for a specified period of time, in exchange for funds to pay for educational expenses.
What it does: CRS summary · Introduced in Senate · Jul 15, 2019
ISA Student Protection Act of 2019
This bill provides for income-share agreements whereby a student agrees to pay a percentage of future income, for a specified period of time, in exchange for funds to pay for educational expenses.
The bill places caps on the percentage of a student's future income that may go towards repayment, provides income minimums under which the required payment is zero, and establishes limitations on the length of these agreements.
The bill provides for the treatment of these agreements under various laws, including tax, securities, and consumer finance laws.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: ISA Student Protection Act of 2019
Latest action (Jul 15, 2019): Read twice and referred to the Committee on Finance.
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: Jul 15, 2019
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.