Clean Slate through Rehabilitation Act

The Clean Slate through Rehabilitation Act (HR 8361) proposes to expand the credit history relief available to student loan borrowers who successfully complete a default reduction program. The bill amends the Higher Education Act of 1965 to change the scope of information removed from a borrower's credit history. Currently, the law states that the "record of the default" is removed; this bill would change that to "any adverse information relating to such loan." This aims to provide more comprehensive clearing of negative credit reporting for individuals who rehabilitate their defaulted student loans.