FAIR Student Credit Act of 2015
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (May 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.
What just happenedMay 15, 2015
Referred to the House Committee on Financial Services.
Who’s behind it
- Introduced in HouseMay 15, 2015
- May 15, 2015IntroReferralH11100
Referred to the House Committee on Financial Services.
Financial Services Committee - May 15, 2015IntroReferralIntro-H
Introduced in House
- May 15, 2015IntroReferral1000
Introduced in House