US SB2114 | 2019-2020 | 116th Congress

Status

Spectrum: Bipartisan Bill
Status: Introduced on July 15 2019 - 25% progression, died in committee
Action: 2019-07-15 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

Summary

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.

Tracking Information

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Title

ISA Student Protection Act of 2019

Sponsors


History

DateChamberAction
2019-07-15SenateRead twice and referred to the Committee on Finance.

Same As/Similar To

HB1810 (Related) 2019-04-11 - Referred to the Subcommittee on Economic Opportunity.

Subjects


US Congress State Sources


Bill Comments

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