United States 119th Congress Status: In Committee Bipartisan · 1 R · 1 D cosponsors

HR 9469 — Outcomes-Based Financing (OBF) for Students Act

Last action — Referred to the Committee on Financial Services, and in addition to the Committees on Ways and Means, Education and Workforce, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill is in committee in the House. Introduced June 25, 2026. It must pass committee before a floor vote.

Next likely step: a committee vote, then a floor vote in the House.

Prognosis

Advancing 34% · moderate confidence

Where this bill stands today.

Odds of enactment

Low

How often bills like it became law.

  • In Committee

    Current position in the legislative process.

  • 2 sponsors

    1 primary, 1 co-sponsors signed on.

  • Bipartisan support

    Sponsored across 2 parties (1 R · 1 D) — cross-party backing.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

In plain language

This bill proposes outcomes-based financing for students to improve educational outcomes.

The Outcomes-Based Financing for Students Act looks to create a framework where funding for educational programs is tied to student outcomes. This may encourage institutions to focus on improving student success and performance.

What this means for you
  • Workers: This may affect workers in education by changing how institutions prioritize resources and evaluate their success.
  • Families: This means families may see improvements in educational quality and student support at schools.

Bill Text

How this bill changes current law

5 changes Share ↗

Compared against current U.S. Code AI-generated reading aid — verify against the official bill.

The bill amends existing law to establish new disclosures and regulations specifically for outcomes-based financing (OBF) products, adding provisions to the Truth in Lending Act.

  • 15 U.S.C. 1604

    (j) Regulations Related to OBF Products.--Not later than 270 days after the date of enactment of the Outcomes-Based Financing (OBF) for Students Act, the Bureau shall prescribe regulations to carry out the purposes of this title, which may contain such additional requirements, classifications, differentiations, or other provisions, and may provide for such adjustments and exceptions for all or any class of transactions, as in the judgment of the Bureau are necessary or proper to effectuate the purposes of this title, to prevent circumvention or evasion thereof, or to facilitate compliance therewith.

    This provision mandates the Bureau to create regulations for OBF products.

  • 15 U.S.C. 1604

    (k) Model Disclosure Forms and Clauses for OBF Products.--Not later than 270 days after the date of enactment of the Outcomes-Based Financing (OBF) for Students Act, the Bureau shall publish a model integrated disclosure for OBF products in order to facilitate compliance with the disclosure requirements of this title and aid OBF recipients in understanding the transaction by utilizing readily understandable language to simplify the technical nature of the disclosures.

    This mandates the Bureau to publish a model integrated disclosure specifically for OBF products.

  • 15 U.S.C. 1632(a)

    The terms → For a product that is not an OBF product, the terms

    This modification specifies that the term disclosures apply to non-OBF products, differentiating between OBF and non-OBF products.

  • 15 U.S.C. 1632(a)

    For an OBF product, the terms `payment calculation method', `income threshold', and `completion mechanisms' shall be disclosed more conspicuously than other terms, data, or information provided in connection with a transaction, except for information relating to the identity of the creditor, and information in the table referenced in section 128(e)(12)(B)(v). The terms `annual percentage rate' and `finance charge' shall be disclosed more conspicuously than other terms, data, or information provided in such table.

    This change requires specific OBF product terms to be disclosed more prominently.

  • 15 U.S.C. 1638(e)

    (12) Disclosure requirements for outcomes-based financing products.--

    This adds a new section outlining specific disclosure requirements for outcomes-based financing products.

Action History

  1. Introduced in House

  2. Introduced in House

  3. Referred to the Committee on Financial Services, and in addition to the Committees on Ways and Means, Education and Workforce, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

  4. Referred to the Committee on Financial Services, and in addition to the Committees on Ways and Means, Education and Workforce, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

  5. Referred to the Committee on Financial Services, and in addition to the Committees on Ways and Means, Education and Workforce, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

  6. Referred to the Committee on Financial Services, and in addition to the Committees on Ways and Means, Education and Workforce, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Sponsors

Sponsorship breakdown

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1 sponsors · 1 co-sponsors · 545 not signed on

Sponsors (1)

Co-sponsors (1)

Not signed on (545)

545 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance education
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

Who sponsors HR 9469?
HR 9469 is sponsored by Houchin, Erin (Republican) and Torres, Ritchie (Democratic).
What is the current status of HR 9469?
This bill is in committee in the House. Introduced June 25, 2026. It must pass committee before a floor vote.
Where can I track HR 9469?
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