S. 1066 · 115th Congress
Federal Adjustment in Reporting Student Credit Act of 2017
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Never voted on. It didn't reach a floor vote before the 115th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
PetersSponsor1 cosponsor · 1 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 2017 or the FAIR Student Credit Act of 2017
What it does: CRS summary · Introduced in Senate · May 8, 2017
Federal Adjustment in Reporting Student Credit Act of 2017 or the FAIR Student Credit Act of 2017
This bill 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 the loan successfully and voluntarily meets the requirements of that loan-rehabilitation program. A consumer may obtain such rehabilitation benefits only once per loan.
The Government Accountability Office shall 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: Federal Adjustment in Reporting Student Credit Act of 2017
Also known as: FAIR Student Credit Act of 2017
Latest action (May 8, 2017): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: May 8, 2017
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.