Simplification of lending process for borrowers

20 U.S.C. § 1092c
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
(a) All like loans treated as oneTo 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 agencyTo 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.

Starting a business? Corpus forms LLCs in all 50 states and DC.