S. 1066: Federal Adjustment in Reporting Student Credit Act of 2017

115th Congress · introduced 2017-05-08 · Finance and Financial Sector · Latest: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

federal

Follow this bill, step by step

Where it came from: introduced 2017-05-08 · official record
Who proposed it: Sen. Peters, Gary C. [D-MI] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Federal Adjustment in Reporting Student Credit Act of 2017

Plain summary

Federal Adjustment in Reporting Student Credit Act of 2017 or the FAIR Student Credit Act of 2017 This bill amends the Fair Credit Reporting Act to allow a person to request the removal of a previously reported default regarding a qualified education loan from a consumer report if: (1) the lender chooses to offer a loan-rehabilitation program that requires a number of consecutive on-time monthly payments equal to the number of payments specified in a default reduction program under the Higher Education Act of 1965, and (2) the consumer of the loan successfully and voluntarily meets the requirements of that loan-rehabilitation program. A consumer may obtain such rehabilitation benefits only once per loan. The Government Accountability Office shall report on any hurdles borrowers experience with the private loan-rehabilitation program.

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

What a vote does

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A “Nay” vote

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PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Federal Adjustment in Reporting Student Credit Act of 2017

Source: Congressional Research Service summary (Introduced in Senate)

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Sen. Peters, Gary C. [D-MI] · 1 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Shelley Moore Capito (R-WV)

Sponsor's campaign money: Sen. Peters, Gary C. [D-MI] reported raising $303,094 (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (1)

Bill: A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-115s1066.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/115/s>

Record fed-us-cong115-s1066 · catalog fed-us-congress-bills-cong115 · updated 2026-11-15 by psicol fed-bills-cong115