[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4395 Introduced in House (IH)]

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116th CONGRESS
  1st Session
                                H. R. 4395

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.


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                    IN THE HOUSE OF REPRESENTATIVES

                           September 19, 2019

   Ms. Stevens (for herself and Ms. Mucarsel-Powell) introduced the 
 following bill; which was referred to the Committee on Education and 
                                 Labor

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                                 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.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Clean Slate through Consolidation 
Act''.

SEC. 2. REMOVAL OF RECORD OF DEFAULT FROM CREDIT HISTORY UPON LOAN 
              CONSOLIDATION.

    Section 455(g) of the Higher Education Act of 1965 (20 U.S.C. 
1087e(g)) is amended--
            (1) by striking ``A borrower'' and inserting the following:
            ``(1) In general.--A borrower''; and
            (2) by adding at the end the following:
            ``(2) Consumer reporting agencies.--Upon obtaining a 
        Federal Direct Consolidation Loan that discharges the liability 
        on a defaulted loan made, insured, or guaranteed under this 
        title, the Secretary, guaranty agency, or other holder of the 
        loan shall request any consumer reporting agency to which the 
        Secretary, guaranty agency or holder, as applicable, reported 
        the default of the loan, to remove the record of the default 
        from the borrower's credit history.''.
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