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Clean Credit Record After Student Loan Repayment

This bill aims to remove negative entries from the credit history of individuals who have fully repaid their defaulted student loans. This allows citizens who have settled their obligations to improve their creditworthiness, making it easier for them to access mortgages, car loans, or other forms of financing.
Key points
Upon full repayment of a defaulted student loan, the negative record of default will be removed from the borrower's credit history.
Improved credit history can facilitate obtaining new loans, renting an apartment, or even finding employment.
The bill applies to student loans made, insured, or guaranteed under Title IV of the Higher Education Act of 1965.
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Additional Information
Print number: 118_HR_4635
Sponsor: Rep. Ross, Deborah K. [D-NC-2]
Process start date: 2023-07-13
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Clean Slate through Repayment Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_4635.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-07-13.

What are the main provisions?

Key points include:

  • Upon full repayment of a defaulted student loan, the negative record of default will be removed from the borrower's credit history.
  • Improved credit history can facilitate obtaining new loans, renting an apartment, or even finding employment.
  • The bill applies to student loans made, insured, or guaranteed under Title IV of the Higher Education Act of 1965.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Ross, Deborah K. [D-NC-2].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Education and the Workforce.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Education Economy