Introduces alternate instructions page with space for customized repayment information. Reminds borrower to continue making payments until notified consolidation is complete. Borrower's Rights and Responsibilities Expands all sections to include more complete explanations. Discusses that some available loan discharges may be lost through Consolidation. Discusses deferments with regard to co-borrowers.
Important Notices Conforms the notices to other approved common forms.
Adds the Paperwork Reduction Notice. Deletes the Equal Credit Opportunity Act Notice. Includes indicator for inclusion of spouse loans if original Note included such loans. Discusses capability to add loans made before or after original Consolidation loan. Discusses possibility of term changes and provision of new disclosure.