,,ib  ,union ,cal5d> ,no4 #bff  #aaf?   
,,congress  #a/ ,session  ,h4 ,r4 #cfba 
,report ,no4 #aaf-cca  ,,9 ,,! ,,h\se   
,,( ,,repres5tatives  ,july #e1 #bjai   
,ms4 ,pressley introduc$ ! foll[+ bill2 
:i* 0 ref]r$ to ! ,committee on         
,f9ancial ,s]vices  ,decemb] #i1        
#bjai;,additional sponsor3 ,ms4         
,ocasio-,cortez  ,decemb] #i1 #bjai     
,report$ ) an am5dm5t1 committ$ to !    
,committee ( ! ,:ole ,h\se on ! ,/ate ( 
! ,union1 & ord]$ to be pr9t$ ,/rike out
 all aft] ! enact+ clause & ins]t ! "p  
pr9t$ 9 italic ,= text ( introduc$ bill1
 see copy ( bill z introduc$ on ,july   
#e1 #bjai  ,a ,,bill  ,to am5d ! ,fair  
,cr$it ,report+ ,act to remove adv]se   
in=mation = c]ta9 default$ or del9qu5t  
private education loan borr[]s :o       
demon/rate a hi/ory ( loan repaym5t1 & =
 o!r purposes4  #a4 ,%ort title ,?is    
,act may be cit$ z ! ,/ud5t ,borr[]     
,cr$it ,improvem5t ,act4  #b4 ,f9d+s    
,congress f9ds ! foll[+3  7#a7 ,!       
,octob] #bjad report ( ! ,bureau (      

,consum] ,f9ancial ,protection titl$    
,annual ,report ( ! ,,cfpb ,/ud5t ,loan 
,ombudsman not$ _m private education    
loan borr[]s1 :o s\ght to negotiate a   
modifi$ repaym5t plan :5 !y 7 exp]i5c+ a
 p]iod ( f9ancial di/ress1 7 unable to  
get assi/ance f _! loan hold]s1 :i* (t5 
result+ 9 !m default+ on _! loans4 ,?is 
patt]n resembles ! difficulty t a       
significant numb] ( mortgage loan       
borr[]s exp]i5c$ :5 !y s\ght to take    
responsible /eps to "w ) _! mortgage    
loan s]vic] to avoid =eclosure dur+ !   
,great ,recession4  7#b7 ,al?\gh private
 /ud5t loan hold]s may all[ a borr[] to 
po/pone paym5ts :ile enroll$ 9 s*ool    
full-"t1 _m limit ?is option to a c]ta9 
"t p]iod1 usually #dh to #ff mon?s4 ,?is
 limit$ "t p]iod may n be suffici5t = ^?
 :o ne$ additional "t to obta9 _! degree
 or :o want to cont9ue _! education by  
purs+ a graduate or pr(essional degree4 
,! ,bureau ( ,consum] ,f9ancial         
,protection f\nd t borr[]s :o 7 unable  
to make paym5ts (t5 default$ or _h _!   

acc\nts s5t to collections be=e !y 7 ev5
 able to graduate4  #c4 ,removal (      
adv]se in=mation = c]ta9 private        
education loan borr[]s  7a7 ,9 g5]al ,! 
,fair ,cr$it ,report+ ,act 7#ae         
,u4,s4,c4 #afha et seq47 is am5d$ by    
ins]t+ aft] section #fje;,b ! foll[+ new
 section3  #fje;,c4 ,cr$it              
rehabilitation = di/ress$ private       
education loan borr[]s4  7a7 ,9 g5]al ,a
 consum] report+ ag5cy may n furni% any 
consum] report conta9+ any adv]se item (
 in=mation relat+ to a del9qu5t or      
default$ private education loan ( a     
borr[] if ! borr[] has rehabilitat$ !   
borr[]'s cr$it ) respect to su* loan by 
mak+ #i on-"t mon?ly paym5ts 79         
accordance ) ! t]ms & conditions ( !    
borr[]'s orig9al loan agreem5t or any   
o!r repaym5t agreem5t t ant$ates !      
orig9al agreem5t7 dur+ a p]iod ( #aj    
consecutive mon?s on su* loan aft] !    
date on :i* ! del9qu5cy or default      
occurr$4  7b7 ,int]ruption ( #aj-,mon?  
p]iod = c]ta9 consum]s  7#a7 ,p]missible

 int]ruption ( ! #aj-mon? p]iod ,a      
borr[] may /op mak+ consecutive mon?ly  
paym5ts & be grant$ a grace p]iod aft]  
:i* ! #aj-mon? p]iod describ$ 9         
subsection 7a7 %all resume4 ,su* grace  
p]iod %all be provid$ "u ! foll[+       
circum/ances3  7,a7 ,) respect to a     
borr[] :o is a memb] ( ! ,arm$ ,=ces    
entitl$ to inc5tive pay = ! p]=mance (  
haz>d\s duty "u section #cja ( title    
#cg1 ,unit$ ,/ates ,code1 haz>d\s duty  
pay "u section #cea ( su* title1 or o!r 
assignm5t or special duty pay "u section
 #ceb ( su* title1 ! grace p]iod %all   
beg9 on ! date on :i* ! borr[] beg9s su*
 assignm5t or duty & end on ! date t is 
#f mon?s aft] ! completion ( su*        
assignm5t or duty4  7,b7 ,) respect to a
 borr[] :o resides 9 an area affect$ by 
a major disa/] or em]g5cy decl>$ "u !   
,rob]t ,t4 ,/af=d ,disa/] ,relief &     
,em]g5cy ,assi/ance ,act1 ! grace p]iod 
%all beg9 on ! date on :i* ! major      
disa/] or em]g5cy 0 decl>$ & end on !   
date t is #c mon?s aft] su* date4  7#b7 

,o!r circum/ances  7,a7 ,9 g5]al ,!     
,bureau may all[ a borr[] demon/rat+    
h>d%ip to /op mak+ consecutive mon?ly   
paym5ts & be grant$ a grace p]iod aft]  
:i* ! #aj-mon? p]iod describ$ 9         
subsection 7a7 %all resume4  7,b7       
,borr[] demon/rat+ h>d%ip def9$ ,9 ?is  
p>agraph1 ! t]m borr[] demon/rat+ h>d%ip
 means a borr[] or a class ( borr[]s :o1
 z det]m9$ by ! ,bureau1 is fac+ or has 
exp]i5c$ unusual ext5uat+ life          
circum/ances or ev5ts t result 9 sev]e  
f9ancial or p]sonal b>ri]s su* t !      
borr[] or class ( borr[]s does n h !    
capacity to comply ) ! requirem5ts (    
subsection 7a74  7c7 ,proc$ures ,!      
,bureau %all e/abli% proc$ures to       
implem5t ! cr$it rehabilitation describ$
 9 ?is section1 includ+--  7#a7 ! mann]1
 cont5t1 & =m = reque/+ cr$it           
rehabilitation2  7#b7 ! me?od = validat+
 t ! borr[] is satisfy+ ! requirem5ts ( 
subsection 7a72  7#c7 ! mann]1 cont5t1 &
 =m = notify+ ! private educational loan
 hold] (-- 7,a7 ! borr[]'s p>ticipation 

9 cr$it rehabilitation "u subsection    
7a72  7,b7 ! requirem5ts describ$ 9     
subsection 7d72 &  7,c7 ! re/rictions   
describ$ 9 subsection 7f72  7#d7 !      
mann]1 cont5t1 & =m = notify+ a consum] 
report+ ag5cy (-- 7,a7 ! borr[]'s       
p>ticipation 9 cr$it rehabilitation "u  
subsection 7a72 &  7,b7 ! requirem5ts   
describ$ 9 subsection 7d72  7#e7 ! me?od
 = v]ify+ :e!r a borr[] qualifies = !   
grace p]iod describ$ 9 subsection 7b72  
7#f7 ! mann]1 cont5t1 & =m ( notify+ a  
consum] report+ ag5cy & private         
educational loan hold] t a borr[] 0     
grant$ a grace p]iod4  7d7 ,/&>diz$     
report+ codes ,a consum] report+ ag5cy  
%all develop /&>diz$ report+ codes = use
 by any private educational loan hold]  
to id5tify & report a borr[]'s /atus (  
mak+ & complet+ #i on-"t mon?ly paym5ts 
dur+ a p]iod ( #aj consecutive mon?s on 
a del9qu5t or default$ private education
 loan1 includ+ codes specify+ ! grace   
p]iod describ$ 9 subsection 7b7 & any   
agreem5t to modify mon?ly paym5ts4 ,su* 

codes %all n appe> on any report provid$
 to a ?ird p>ty1 & %all be remov$ f !   
consum]'s cr$it report ^u ! consum]'s   
completion ( ! rehabilitation p]iod "u  
?is section4  7e7 ,elim9ation ( b>ri]s  
to cr$it rehabilitation ,a consum]      
report 9 :i* a private educational loan 
hold] furni%es ! /&>diz$ report+ codes  
describ$ 9 subsection 7d7 to a consum]  
report+ ag5cy1 or 9 :i* a consum]       
report+ ag5cy includes su* codes1 %all  
be deem$ to comply ) ! requirem5ts =    
accuracy & complet5ess "u sections      
#fbc7;a77#a7 & #fcj4  7f7 ,prohibition  
on civil actions = consum]s pursu+      
rehabilitation ,a private educational   
loan hold] may n comm5ce or proce$ ) any
 civil action aga9/ a borr[] ) respect  
to a del9qu5t or default$ loan dur+ !   
p]iod ( rehabilitation if ! private     
educational loan hold] has be5 notifi$1 
9 accordance ) ! proc$ures e/abli%$ by !
 ,bureau pursuant to subsection 7c7--   
7#a7 ( su* borr[]'s int5t to p>ticipate 
9 rehabilitation2  7#b7 t su* borr[] has

 satisfi$ ! requirem5ts "u subsection   
7a72 or  7#c7 t su* borr[] 0 grant$ a   
grace p]iod4  7g7 ,impact on /atute (   
limitations = prior debt ,paym5ts by a  
borr[] on a private education loan t are
 made dur+ & aft] a p]iod (             
rehabilitation "u ?is section %all h no 
effect on ! /atute ( limitations )      
respect to paym5ts t 7 due on su*       
private education loan be=e ! beg9n+ ( !
 p]iod ( rehabilitation4  7h7 ,paym5t   
plans ,if a private educational loan    
hold] ent]s into a paym5t plan ) a      
borr[] on a private education loan dur+ 
a p]iod ( rehabilitation1 su* paym5t    
plan %all be reasonable & af=dable1 z   
det]m9$ by ! ,bureau4  7i7 ,rules (     
con/ruction  7#a7 ,application to       
subsequ5t default or del9qu5cy ,a borr[]
 :o satisfies ! requirem5ts "u          
subsection 7a7 %all be eligible =       
additional cr$it rehabilitation describ$
 9 subsection 7a7 ) respect to any      
subsequ5t default or del9qu5cy ( !      
borr[] on ! rehabilitat$ private        

education loan4  7#b7 ,int]ruption (    
consecutive paym5t p]iod requirem5t ,!  
grace p]iod describ$ 9 subsection       
7b77#a77;,a7 %all n apply if any        
regulation promulgat$ "u section #ihg ( 
title #aj1 ,unit$ ,/ates ,code 7commonly
 kn[n z ! ,milit>y ,l5d+ ,act71 or !    
,s]vicememb]s ,civil ,relief ,act 7#ej  
,u4,s4,c4 ,app4 #eja et seq47 all[s = a 
grace p]iod or o!r int]ruption ( !      
#aj-mon? p]iod describ$ 9 subsection 7a7
 & su* grace p]iod or o!r int]ruption is
 long] ?an ! p]iod describ$ 9 subsection
 7b77#a77;,a7 or o!rwise provides great]
 protection or b5efit to ! borr[] :o is 
a memb] ( ! ,arm$ ,=ces4  4  7b7 ,con=m+
 am5dm5t ,section #fbc7;a77#a7 ( ! ,fair
 ,cr$it ,report+ ,act 7#ae ,u4,s4,c4    
#afhas-#b7;a77#a77 is am5d$ by /rik+    
subp>agraph 7,e74  7c7 ,table ( cont5ts 
am5dm5t ,! table ( cont5ts ( ! ,fair    
,cr$it ,report+ ,act is am5d$ by ins]t+ 
aft] ! item relat+ to section #fje;,b ! 
foll[+ new item3  #fje;,c4 ,cr$it       
rehabilitation = di/ress$ private       

education loan borr[]s4  4  #d4 ,private
 education loan def9itions ,section #fjc
 ( ! ,fair ,cr$it ,report+ ,act 7#ae    
,u4,s4,c4 #afha;a7 is am5d$ by add+ at !
 end ! foll[+ new subsection3  7bb7     
,private education loan def9itions ,!   
t]ms private education loan & private   
educational l5d] h ! mean+s giv5 su*    
t]ms1 respectively1 9 section #adj7;a7 (
 ! ,tru? 9 ,l5d+ ,act4  4  #e4 ,rulemak+
 ,except z o!rwise provid$1 ! ,bureau ( 
,consum] ,f9ancial ,protection %all1 n  
lat] ?an ! end ( ! #b-ye> p]iod beg9n+  
on ! date ( ! enactm5t ( ?is ,act1 issue
 f9al rules to implem5t ! am5dm5ts made 
by ?is ,act4  ,decemb] #i1 #bjai        
,report$ ) an am5dm5t1 committ$ to !    
,committee ( ! ,:ole ,h\se on ! ,/ate ( 
! ,union1 & ord]$ to be pr9t$