Rural Electrification Loan Restructuring Act of 1993

Rural Electrification Loan Restructuring Act of 1993 - Amends the Rural Electrification Act of 1936 to prescribe guidelines under which the Rural Electrification Administrator (the Administrator) shall make insured electric and telephone loans (including hardship, municipal rate, and cost of money loans).

Directs the Administrator to approve State telecommunications modernization plans if they meet specified requirements. Prescribes guidelines for loans made by the Governor of a telephone bank in the rural telephone bank loan program.

Authorizes appropriations for: (1) electric hardship loans; (2) electric municipal rate loans; (3) telephone hardship loans; and (4) telephone cost-of-money loans. Expands the size of a "rural area" for such purposes.

Prohibits the Administrator and the Governor of the telephone bank from imposing any charges not expressly provided for in this Act in connection with any loan or guarantee made under it. Specifies circumstances under which the Administrator may use consultants funded by the borrower.

Prescribes guidelines for: (1) distribution borrower eligibility for loans, loan guarantees, and lien accommodations; and (2) administrative prohibitions applicable to electric borrowers.

Amends the Consolidated Farm and Rural Development Act to authorize the Secretary of Agriculture to make loans to certain borrowers to whom a loan has been made under the Rural Electrification Act of 1936 for water and waste disposal facilities serving certain rural residents.

States that a borrower of a loan or loan guarantee under the Rural Electrification Act of 1936 is eligible for assistance under all programs administered by the Rural Development Administration.