H.R.2363 - FAIR Student Credit Act of 2015114th Congress (2015-2016)
|Sponsor:||Rep. Carney, John C., Jr. [D-DE-At Large] (Introduced 05/15/2015)|
|Committees:||House - Financial Services|
|Latest Action:||House - 05/15/2015 Referred to the House Committee on Financial Services. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
Summary: H.R.2363 — 114th Congress (2015-2016)All Information (Except Text)
Introduced in House (05/15/2015)
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 consumer to request the removal of a previously reported default regarding a qualified education loan from a consumer report if the consumer meets the requirements of a private loan rehabilitation program in which the number of consecutive on-time monthly payments is equal to the number of payments specified in a default reduction program under the Higher Education Act of 1965.
Permits a consumer to obtain such rehabilitation benefits only once per loan.
Requires the Government Accountability Office to report on any challenges borrowers experience with the private loan rehabilitation program.