Bipartisan Legislation on Income Share Agreements Introduced in Congress

Forbes reports that bipartisan legislation on Income Share Agreements -- student loans in which recipients "commit a fixed percentage of their future earnings in exchange for education funding" -- was introduced in Congress this week. According to Forbes, the bill would (among other things) allow ISA debt to be discharged in bankruptcy, exempt debtors from payment when their income is less than 200% of the poverty level, and provide a repayment rate cap of 20% of the debtor's income. Read the full Forbes piece here.