S. 1309 · 114th Congress
FAIR Student Credit Act of 2015
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Never voted on. It didn't reach a floor vote before the 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
PetersSponsor2 cosponsors · 2 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Federal Adjustment in Reporting Student Credit Act of 2015 or the FAIR Student Credit Act of 2015
What it does: CRS summary · Introduced in Senate · May 12, 2015
Federal Adjustment in Reporting Student Credit Act of 2015 or the FAIR Student Credit Act of 2015
Amends the Fair Credit Reporting Act to allow a person to request the removal of a previously reported default regarding a qualified education loan from a consumer report if: (1) the lender chooses to offer a loan rehabilitation program that requires a number of consecutive on-time monthly payments equal to the number of payments specified in a default reduction program under the Higher Education Act of 1965, and (2) the consumer of such loan successfully and voluntarily meets the requirements of that loan rehabilitation program.
Permits a consumer to obtain such rehabilitation benefits only once per loan.
Requires the Government Accountability Office to report on any hurdles borrowers experience with the private loan rehabilitation program.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: FAIR Student Credit Act of 2015
Also known as: Federal Adjustment in Reporting Student Credit Act of 2015
Latest action (May 12, 2015): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: May 12, 2015
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.