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Bush Repeals Rule On Student Loan Consolidation

Law360 (June 21, 2006, 12:00 AM EDT) -- In a move to stimulate competition in the student consolidation loan market, President George W. Bush has repealed a rule that compelled borrowers who have all of their student loans with a single lender to consolidate with that lender.

After Bush abolished the Single Lender Rule last week, the decision was hailed by small lenders who want to break into the market and by college students who can now pick and choose between lenders to consolidate.

The repeal will boost competition in the consolidation loan sector...
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