Congresswomen Williams, Ross, Stevens, and Adams Lead Legislation to Help Borrowers with Student Loan Debt Burden
Press Release
On Thursday, Congresswomen Nikema Williams (GA-05), Deborah Ross (NC-02), Haley Stevens (MI-11), and Alma Adams (NC-12) introduced the Student Loan Rehabilitation and Credit Score Improvement Act. The Congresswomen were joined by eight additional original cosponsors in introducing the bill.
One way for student loan borrowers to get out of default is through loan rehabilitation. and continue to impact borrowers' ability to get a job, buy a car, and rent an apartment or house. This bill would ensure that all negative credit reporting related to a previously defaulted student loan is removed from a borrower's credit history once the borrower has completed student loan rehabilitation.
"I'm one of the 44.7 million Americans who are still paying off student loans and, like me, too many Georgians remain burdened by student loan debt well after graduation day," said Congresswoman Williams. "I am determined to find steps to relieve significantly burdened borrowers as I continue to push for student debt cancellation. My common sense bill will help borrowers who have worked hard to rehabilitate their defaulted loans and ensure they truly get a second chance. The American people were told that college would be a path to the American dream, but student debt has created a uniquely American nightmare. In Congress, I will do all I can to provide comprehensive relief and make the American dream a reality for debt-burdened borrowers."
The Student Loan Rehabilitation and Credit Score Improvement Act is endorsed by the American Association of State Colleges and Universities, American Federation of Teachers, Center for Responsible Lending, National Association of Student Financial Aid Administrators, National Consumer Law Center (on behalf of its low-income clients), National Education Association, Partnership for Southern Equity, Student Government Association of the Georgia Institute of Technology, and The Institute for College Access and Success.
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