20 U.S.C. § 1092c — Simplification of lending process for borrowers
U.S.C. Title 20 - EDUCATION 20 U.S.C. United States Code, 2023 Edition Title 20 - EDUCATION CHAPTER 28 - HIGHER EDUCATION RESOURCES AND STUDENT ASSISTANCE SUBCHAPTER IV - STUDENT ASSISTANCE Part G - General Provisions Relating to Student Assistance Programs Sec. 1092c - Simplification of lending process for borrowers From the U.S. Government Publishing Office, www.gpo.gov
§1092c. Simplification of lending process for borrowers
(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.
(Pub. L. 89–329, title IV, §485C, as added Pub. L. 102–325, title IV, §488, July 23, 1992, 106 Stat. 624.)