2808.01.04.03  MULTIPLE LOANS/ONE SCHOOL

References:  34 C.F.R. 674.33(d); NASFAA Encyclopedia 5.8.1.6.

Multiple loans generally are considered to be loans from the same institution 
with different interest rates and provisions.  Both billing and payment 
application become more complex when multiple loans are involved, 
particularly if the institution has chosen to require a minimum repayment 
rate.  Prorating payments among multiple loans and exercising the minimum 
repayment option are specifically addressed in the federal regulations.