Outcomes-Based Financing (OBF) for Students Act

(a) Short title. This Act may be cited as the Outcomes-Based Financing (OBF) for Students Act.

(b) Table of contents. The table of contents for this Act is as follows: Sec. 1. Short title; table of contents. TITLE I—Tax treatment of OBF products Sec. 101. Exclusion of income from discharge of indebtedness. Sec. 102. Treatment as interest on education loan. Sec. 103. Amounts treated as educational assistance. Sec. 104. Treatment of amounts received by OBF provider. TITLE II—Disclosures applicable to OBF products Sec. 201. Disclosures. Sec. 202. Advertising of OBF products. TITLE III—Consumer protections for OBF products Sec. 301. Consumer protections. Sec. 302. Treatment under bankruptcy laws. TITLE IV—Other clarifications to support OBF products Sec. 401. Consent to continuing release of taxpayer information under OBF products. Sec. 402. Amendments to the higher education Act of 1965. Sec. 403. Supporting outcomes-based underwriting. Sec. 404. Treatment under the fair credit reporting act.