student loan consolidation rule
Click a Flag to Translate the page
 |
 |
 |
 |
 |
 |
 |
 |
 |
All Student Loan Borrowers Can Now Consolidate Federal Student ...
HARRISBURG, Pa., June 20 /PRNewswire/ -- Good news for student loan borrowers across the nation -- Congress has repealed the "Single Holder Rule," allowing any student loan borrower to consolidate their student loans with American Education Services (AES).
Under the Single Holder Rule, borrowers whose federal student loans were held by one lender were only able to consolidate their loans with that lender. Now borrowers can consolidate their student loans with any eligible lender, including those who offer lower interest rates, rebates, better repayment terms and quality customer service.
"We're thrilled with this long-anticipated ruling," said Dick Willey, AES President and C.E.O. "We receive consolidation requests from borrowers on a daily basis, looking to take advantage of our repayment benefits and services, and we have been forced to turn them down because of the Single Holder Rule.
More student loan consolidation rule info
Students given OK to shop for best deals to consolidate loans
Newly minted university graduates facing the looming specter of student loan payments should take heed: The federal government earlier this month passed legislation to do away with the “single-lender" or “single-holder" rule, meaning borrowers are now free to shop around for the best consolidation deals.And not a moment too soon.
.