HR 2561 113th Congress House Finance and Financial Sector Congressional oversight Consumer credit Government studies and investigations Higher education Student aid and college costs

FAIR Student Credit Act of 2013

Introduced: June 27, 2013 Introduced by: Peters, Gary C. Democratic · Michigan See on congress.gov

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Jun 27, 2013

Referred to the House Committee on Financial Services.

Jun 27, 2013

Introduced in House

Plain-English summary Congressional Research Service

Federal Adjustment in Reporting Student Credit Act of 2013 or the FAIR Student Credit Act of 2013 - Amends the Fair Credit Reporting Act, with respect to the responsibilities of furnishers of information to consumer reporting agencies, to provide for the removal of a previously reported default regarding a qualified education loan from a consumer report if the consumer of the loan meets the requirements of a loan rehabilitation program, where the number of consecutive on-time monthly payments are 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 Comptroller General (GAO) to report on any hurdles borrowers experience with the private loan rehabilitation program.

What's happening now June 27, 2013

Referred to the House Committee on Financial Services.

Committees of jurisdiction 1