REPORTS TO CREDIT BUREAUS AND INSTITUTIONS OF HIGHER EDUCATION.

SEC. 424. REPORTS TO CREDIT BUREAUS AND INSTITUTIONS OF HIGHER EDUCATION. Section 430A(f) of the Act (20 U.S.C. 1080a(f)) is amended— (1) by striking “or” at the end of paragraph (1); (2) by striking paragraph (2) and inserting the following: “(2) 7 years from the date the Secretary, guaranty agency, eligible lender, or subsequent holder first reported the account to the consumer reporting agency; or “(3) in the case of a borrower who reenters repayment after defaulting on a loan and subsequently goes into default on such loan, 7 years from the date the loan entered default such subsequent time.”.