Do any pending or adopted regulations or legislation require a school to use more than one guarantor?
There is no requirement in existing or proposed rules regarding the minimum number of student loan guarantors with which a school must work. Although it is permissible for a postsecondary institution to work with only a single guarantor, it is important to note that student- and parent-borrowers have the right to select the lenders and guarantors for their loans. A school may not refuse to certify a loan for an applicant who has selected a guarantor with which the school does not normally work.
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