WASHINGTON, June 26 -- Senator Todd Young issued the following press release:
U.S. Senators Todd Young (R-Ind.), Mark Warner (D-Va.), and Chris Coons (D-Del.) introduced the bipartisan Outcomes-Based Financing (OBF) for Students Act. The legislation expands access to innovative financing options for students pursuing postsecondary education and workforce training while establishing strong consumer protections to safeguard participants.
Companion legislation was introduced in the U.S. House of Representatives by Representatives Erin Houchin (R-Ind.-9) and Ritchie Torres (D-N.Y.-15).
Outcomes-based financing (OBF) products - including outcomes-based loans and payment agreements - help students pay for postsecondary education, workforce tra...