1. Short title
This Act may be cited as the “Student Loan Default Reduction Program Act”.
Student Loan Default Reduction Program Act
A BILL
To amend the Higher Education Act of 1965 to remove all adverse credit history related to a loan from the credit history of a borrower who has rehabilitated the loan.
2. Default reduction program
Section 428F(a)(1)(C) of the Higher Education Act of 1965 (20 U.S.C. 1078–6(a)(1)(C)) is amended by striking “to remove the record of the default from the borrower's credit history” and inserting “to remove any adverse item of information relating to such loan from the borrower’s credit history”.