ISA Student Protection Act of 2019

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.

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Timeline

1. 15 July 2019

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 15 July 2019

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 15 July 2019 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 15 July 2019

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 15 July 2019

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 15 July 2019

  Open at official source

Sponsors

• Todd Young · R · Sponsor
• Mark Warner · D · Sponsor
• Sen. Rubio, Marco [R-FL] · R · Sponsor
• Christopher Coons · D · Sponsor
• · ssfi00 · Standing

Related records

• related to → Kids to College Act