June 23, 2006
Bill Would Repeal Loan Provision
Tucked into a supplemental spending bill nearing completion in Congress is a provision that would repeal a rule that requires many borrowers in the guaranteed-student-loan program who wish to consolidate their loans to do so with the company that originated their loans.
The repeal, which would allow all borrowers in the bank-based program to shop around for cheaper interest rates, was attached to the emergency spending measure at the request of Rep. Ralph Regula, Republican of
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