FAIR Student Credit Act of 2015

Summary

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.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 15 May 2015

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• Introduced in House (PDF)

  Introduced in House · EN · 15 May 2015

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• Introduced in House

  summary · EN · 15 May 2015

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