"What [private student loan] ads often fail to mention is that federal loans offer the same grace period, more repayment options, and - almost invariably - better interest rates," The Chronicle of Higher Education reports. "Now, with private lending growing 10 times as fast as federal lending, Congress is taking steps to educate borrowers about the differences between federal and private loans. Last year the U.S. House of Representatives passed a bill to reauthorize the Higher Education Act that would require private lenders to provide borrowers with multiple disclosures about terms and conditions and notify them that they may qualify for lower-cost federal loans. The bill, which is being reconciled with the Senate's version, would also require private lenders to obtain from a borrower's college certification of his or her enrollment status and cost of attendance before issuing any loan funds. Few lenders oppose the disclosure requirements, but the certification proposal has them divided. 'It's predictable that they will pick lenders on their preferred-lender list or ones they have arrangements with,' said Karin Pellman, a spokeswoman for MyRichUncle, a direct-to-consumer lender that has angered many financial-aid advisers by running ads that question their integrity. Justin Draeger, a spokesman for Nasfaa, said that while individual financial-aid officers 'may have a private opinion on lenders and loan programs, that doesn't mean we don't administer them professionally.'"