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HR 3432 114th Congress House

Investing in Student Success Act of 2015

Official title: To provide the legal framework and income tax treatment necessary for the growth of innovative private financing options for students to fund postsecondary education, and for other purposes.

Introduced: July 29, 2015 Introduced by: Young, Todd Republican · Indiana See on congress.gov
Education Contracts and agencyFederal preemptionFinancial services and investmentsHigher education
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Income tax exclusionStudent aid and college costsWages and earnings
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This bill died when the 114th Congress ended
It never became law before the 114th Congress (2015–2016) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Nov 16, 2015
Referred to the Subcommittee on Higher Education and Workforce Training.
Jul 29, 2015
Introduced in House
Jul 29, 2015
Referred to the Committee on Ways and Means, and in addition to the Committees on Education and the Workforce, and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
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 Latest action November 16, 2015

Referred to the Subcommittee on Higher Education and Workforce Training.

 Plain-English summary Congressional Research Service

Investing in Student Success Act of 2015

This bill authorizes an individual (i.e., a student) and another person (i.e., an investor) to enter an income-share agreement (ISA) in which the student agrees to pay a percentage of future income, for a specified period of time, in exchange for funds to pay for postsecondary educational expenses.

An ISA that complies with specified terms and conditions and meets certain disclosure requirements is a valid, binding, and enforceable contract and is not subject to state laws that limit interest rates or regulate assignments of future income.

The bill amends the Internal Revenue Code to include an ISA as a qualified education loan (a qualified education loan is not dischargeable in bankruptcy), but it prohibits a tax deduction for interest paid on an ISA (interest paid on a qualified education loan is tax deductible).

Payments to a student under an ISA are not includible as: (1) gross income for tax purposes, or (2) income or assets for federal financial aid eligibility purposes under the Higher Education Act of 1965.

The bill amends the Investment Company Act of 1940 to exclude as an investment company any person whose business substantially consists of making ISAs.

 Related & companion bills 1
  • S 2186 Related bill Investing in Student Success Act of 2015
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 4
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APA
U.S. Congress. (2026). H.R. 3432: Investing in Student Success Act of 2015. 114th Congress. Open America. https://openamerica.io/bill/114-HR-3432/
MLA
"H.R. 3432: Investing in Student Success Act of 2015." 114th Congress, 2026, Open America, https://openamerica.io/bill/114-HR-3432/.
Bluebook (legal)
H.R. 3432, 114th Cong. (2026), https://openamerica.io/bill/114-HR-3432/.
Markdown link
[H.R. 3432: Investing in Student Success Act of 2015](https://openamerica.io/bill/114-HR-3432/)
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