summary
Introduced
07/12/2023
07/12/2023
In Committee
07/12/2023
07/12/2023
Crossed Over
Passed
Dead
01/03/2025
01/03/2025
Introduced Session
118th Congress
Bill Summary
A BILL To amend the Higher Education Act of 1965 to require the removal of the record of default from credit history upon obtaining a Federal Direct Consolidation Loan that discharges the defaulted loan.
AI Summary
This bill amends the Higher Education Act of 1965 to require the removal of the record of default from a borrower's credit history upon obtaining a Federal Direct Consolidation Loan that discharges the defaulted loan. The bill mandates that the Secretary of Education, the guaranty agency, or the loan holder must request any consumer reporting agency to which the default was reported to remove the adverse information from the borrower's credit history. This measure aims to provide a "clean slate" for borrowers who have defaulted on their student loans and subsequently consolidated their debt into a new loan.
Committee Categories
Education
Sponsors (9)
Haley Stevens (D)*,
Alma Adams (D),
Madeleine Dean (D),
Hank Johnson (D),
Jenn McClellan (D),
Eleanor Holmes Norton (D),
Katie Porter (D),
Deborah Ross (D),
Nikema Williams (D),
Last Action
Referred to the House Committee on Education and the Workforce. (on 07/12/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/118th-congress/house-bill/4591/all-info |
| BillText | https://www.congress.gov/118/bills/hr4591/BILLS-118hr4591ih.pdf |
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