S. 835 — Consolidation Student Loan Flexibility Act of 2003

Summary

Consolidation Student Loan Flexibility Act of 2003 - Amends the Higher Education Act of 1965 to allow student loan borrowers to choose a lender for loan consolidation. (Eliminates the requirement that: (1) the consolidation loan lender must already hold an outstanding student loan of the borrower; or (2) the borrower must certify to having sought and been unable to obtain a consolidation loan with income-sensitive repayment terms from any holders of the outstanding loans selected for consolidation.)

Requires clear and conspicuous notice to be provided to student loan applicants, and to student loan borrowers at their exit interviews, describing the effects of using consolidation loans, and including specified information for applicants or borrowers respectively.

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Legislative Actions

2003-04-09
Introduced in Senate
2003-04-09
Sponsor introductory remarks on measure. (CR S5069-5070)
2003-04-09
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

Consolidation Student Loan Flexibility Act of 2003

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Summary

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