117 HR 7000 IH: Clean Slate through Consolidation Act U.S. House of Representatives 2022-03-08 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I 117th CONGRESS2d Session H. R. 7000 IN THE HOUSE OF REPRESENTATIVES March 8, 2022 Ms. Stevens (for herself, Ms. Ross, Ms. Williams of Georgia, and Ms. Adams) introduced the following bill; which was referred to the Committee on Education and Labor 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.

1.

Short title

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

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 any adverse item of information relating to such loan from the borrower’s credit history..