Clean Slate through Repayment Act of 2023

[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4635 Introduced in House (IH)]

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118th CONGRESS
  1st Session
                                H. R. 4635

   To amend the Higher Education Act of 1965 to remove the record of 
 default on a loan made, insured, or guaranteed under title IV from a 
borrower's credit history upon repayment of the full amount due on such 
                                 loan.


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                    IN THE HOUSE OF REPRESENTATIVES

                             July 13, 2023

 Ms. Ross (for herself, Ms. Stevens, Ms. Williams of Georgia, and Ms. 
    Adams) introduced the following bill; which was referred to the 
                Committee on Education and the Workforce

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                                 A BILL


 
   To amend the Higher Education Act of 1965 to remove the record of 
 default on a loan made, insured, or guaranteed under title IV from a 
borrower's credit history upon repayment of the full amount due on such 
                                 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 Repayment Act of 
2023''.

SEC. 2. REMOVAL OF RECORD OF DEFAULT.

    Part G of title IV of the Higher Education Act of 1965 (20 U.S.C. 
1088 et seq.) is amended by adding at the end the following:

``SEC. 495. REMOVAL OF RECORD OF DEFAULT.

    ``Upon repaying in full the amount due 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.''.
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