Student loan consolidation

With the vote now in the hands of the Senate and expected any time, students can make their voices heard and ask their senators to do the right thing and repeal the single lender rule. Here’s why:

Currently, the way the bill stands, students do not have that many choices. Firstly, college student loans have to go through the Department of Education. Because students are prohibited from using other lenders for student loan consolidation, for years they can be stuck with one lender that does not offer advantageous benefits. With the single lender rule in place, student loan consolidation also is unavailable to students along with the benefits of that program.

If the Senate does approve the bill, elimination of the college loans single lender rule would not take place until July 1. The Senate now can make changes to the reauthorization bill; if any changes are made the bill is sent back to the House for approval.

source : http://www.1888articles.com/students-should-ask-senators-to-eliminate-single-lender-rule-05s7rx315h.html