S 2114
116th Congress
Senate
Finance and Financial Sector
Administrative law and regulatory procedures
Business investment and capital
Congressional oversight
Consumer Financial Protection Bureau
Consumer credit
Debt collection
Department of Defense
Department of the Treasury
Federal preemption
Higher education
Income tax exclusion
Military personnel and dependents
Securities
State and local government operations
Student aid and college costs
Tax administration and collection, taxpayers
Wages and earnings
ISA Student Protection Act of 2019
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 15, 2019
Read twice and referred to the Committee on Finance.
Jul 15, 2019
Introduced in Senate
Plain-English summary
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.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1