After the decision of choosing student loan consolidation and having a look at the market for those special offers, problems may still occur. The single lender rule may come into discussion and change it allÂ…
The problem of the single lender rule
What is the single lender rule? Well, according to the single lender rule, if you are a student and you ask for a student loan, your request is sent through to the Department of Education which will decide who your lender will be. This action leaves you with very few options. Students are often stuck with one lender, due to the single lender rule, a rule that has many disadvantages.