FEDERAL · 20 U.S.C. · Chapter 28
Simplification of lending process for borrowers
Current through Pub. L. 119-102
(a)All like loans treated as one
To the extent practicable, and with the cooperation of the borrower, eligible lenders shall treat all loans made to a borrower under the same section of part B as one loan and shall submit one bill to the borrower for the repayment of all such loans for the monthly or other similar period of repayment. Any deferments on one such loan will be considered a deferment on the total amount of all such loans.
(b)One lender, one guaranty agency
To the extent practicable, and with the cooperation of the borrower, the guaranty agency shall ensure that a borrower only have one lender, one holder, one guaranty agency, and one servicer with which to maintain contact.
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20 U.S.C. § 1092c (Simplification of lending process for borrowers) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Related
Halperin v. Regional Adjustment Bureau, Inc.
206 F.3d 1063 (Eleventh Circuit, 2000)
Halperin v. Regional Adj. Bureau
206 F.3d 1063 (Eleventh Circuit, 2000)
Source Credit
History
(Pub. L. 89–329, title IV, §485C, as added Pub. L. 102–325, title IV, §488, July 23, 1992, 106 Stat. 624.)