- Not enactedThe President has not signed this bill
- The senate has not voted
- The house has not voted
House Committee on Financial ServicesIntroducedJune 27th, 2013
- house Committees
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FAIR Student Credit Act of 2013
To provide for the removal of default information from a borrower's credit report with respect to certain rehabilitated education loans.
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.