---
title: "ISA Student Protection Act of 2023"
identifier: "118-S-136"
congress: 118
bill_number: 136
bill_type: "S"
version_code: "is"
version_type: "Introduced in Senate"
bill_url: "https://chamberzero.com/congresses/118/bills/s/136"
source: "https://www.congress.gov/bill/118th-congress/senate-bill/136"
site: "Chamber Zero"
site_url: "https://chamberzero.com"
rendered_at: "2026-06-03T23:35:23.889Z"
---
## SEC. 1 Short title; table of contents.

[Read Section 1 →](/congresses/118/bills/s/136/sections/1-section-one.md)

## SEC. 2 Definitions.

[Read Section 2 →](/congresses/118/bills/s/136/sections/2.md)

## SEC. 3 Effective date.

[Read Section 3 →](/congresses/118/bills/s/136/sections/3.md)

# TITLE I — New consumer protections specific to income share agreements

## SEC. 101 Prohibition on acceleration; treatment of early completion mechanisms.

[Read Section 101 →](/congresses/118/bills/s/136/sections/TI-101.md)

## SEC. 102 Consumer protections for educational income share agreements.

[Read Section 102 →](/congresses/118/bills/s/136/sections/TI-102.md)

## SEC. 103 Discharge protections for ISA recipients.

[Read Section 103 →](/congresses/118/bills/s/136/sections/TI-103.md)

## SEC. 104 Limitation on amounts treated as income under educational ISAs.

[Read Section 104 →](/congresses/118/bills/s/136/sections/TI-104.md)

# TITLE II — Tax treatment of income share agreements

## SEC. 201 Tax treatment.

[Read Section 201 →](/congresses/118/bills/s/136/sections/TII-201.md)

# TITLE III — Disclosures applicable to income share agreements

## SEC. 301 Disclosures.

[Read Section 301 →](/congresses/118/bills/s/136/sections/TIII-301.md)

## SEC. 302 Required disclosures for income share agreements.

[Read Section 302 →](/congresses/118/bills/s/136/sections/TIII-302.md)

## SEC. 303 Additional requirements for educational ISAs.

[Read Section 303 →](/congresses/118/bills/s/136/sections/TIII-303.md)

## SEC. 304 Advertising of income share agreements.

[Read Section 304 →](/congresses/118/bills/s/136/sections/TIII-304.md)

# TITLE IV — Other clarifications to support ISA programs

## SEC. 401 Treatment under securities laws.

[Read Section 401 →](/congresses/118/bills/s/136/sections/TIV-401.md)

## SEC. 402 Treatment under bankruptcy laws.

[Read Section 402 →](/congresses/118/bills/s/136/sections/TIV-402.md)

## SEC. 403 Consent to continuing release of taxpayer information under educational ISAs and income share agreements.

[Read Section 403 →](/congresses/118/bills/s/136/sections/TIV-403.md)

## SEC. 404 Interplay with the Higher Education Act of 1965.

[Read Section 404 →](/congresses/118/bills/s/136/sections/TIV-404.md)

# TITLE V — Applying existing consumer protections to income share agreements

## SEC. 501 Equal access to income share agreements.

[Read Section 501 →](/congresses/118/bills/s/136/sections/TV-501.md)

## SEC. 502 Prohibition on requiring preauthorized electronic fund transfers under the Electronic Fund Transfer Act.

[Read Section 502 →](/congresses/118/bills/s/136/sections/TV-502.md)

## SEC. 503 Treatment under the Fair Credit Reporting Act.

[Read Section 503 →](/congresses/118/bills/s/136/sections/TV-503.md)

## SEC. 504 Treatment under the Fair Debt Collection Practices Act.

[Read Section 504 →](/congresses/118/bills/s/136/sections/TV-504.md)

## SEC. 505 Treatment of educational income share agreements for purposes of Military Lending Act.

[Read Section 505 →](/congresses/118/bills/s/136/sections/TV-505.md)

## SEC. 506 Treatment under the Servicemembers Civil Relief Act.

[Read Section 506 →](/congresses/118/bills/s/136/sections/TV-506.md)

## SEC. 507 Preservation of consumers’ claims and defenses.

[Read Section 507 →](/congresses/118/bills/s/136/sections/TV-507.md)

# TITLE VI — Relation to other laws

## SEC. 601 Treatment under other laws.

[Read Section 601 →](/congresses/118/bills/s/136/sections/TVI-601.md)

## SEC. 602 Relation to State law.

[Read Section 602 →](/congresses/118/bills/s/136/sections/TVI-602.md)

# TITLE VII — Enforcement and reporting

## SEC. 701 Enforcement.

[Read Section 701 →](/congresses/118/bills/s/136/sections/TVII-701.md)

## SEC. 702 Reporting requirement for the Bureau of Consumer Financial Protection.

[Read Section 702 →](/congresses/118/bills/s/136/sections/TVII-702.md)