OneSimpleLoan Lawsuit influences Restoration of Two-Step Student Loan Consolidation

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) June 27, 2006 -- Oldsmar, FL- June 27, 2006 � The lawsuit filed by OneSimpleLoan , a firm specializing in personal student loan consolidation, challenging the U.S. Department of Education�s early termination of the �two-step� consolidation program has been the catalyst for two significant reforms in national student loan consolidation.

Both the repeal of the single holder rule and the restoration of two-step consolidation program were decisions influenced by the OneSimpleLoan lawsuit.

�This is a big win for OneSimpleLoan and student borrowers,� explained Paul Simino, President of OneSimpleLoan, �with student loan interest rates prepared to increase almost 2 percentage points on July 1, we want student borrowers to have as many options as possible in finding the lowest interest rates and best possible repayment terms.�

The reimplementation of the two-step statutory provision permits Federal Family Education Loan (FFEL) borrowers without any Direct Loans to consolidate FFEL loans into a Direct Consolidation Loan.

Paul Simino, President of OneSimpleLoan, is available for comment on the restoration of two-step consolidation, his role in it, and the benefits to students.

OneSimpleLoan� is a national student loan company assisting thousands of students and their parents with student loan needs before, during and after their college experience. Specializing in student loan consolidation, the company offers a full array of student loan products including Stafford, Parent PLUS and private loans, all at competitive rates. Superb product knowledge of intricate student loan laws and regulations, unsurpassed customer service, an information-rich website and a strong outreach program to colleges and universities throughout the U.S are the hallmarks of this dynamic player in the student loan industry.

OneSimpleLoan is a member of the National Council of Higher Education Loan Programs (NCHELP) and the Florida Association of Student Financial Aid Administrators (FASFAA).

For more information about OneSimpleLoan student loan products and services, visit http://www.OneSimpleLoan.com or call toll-free 1-877-663-7467.