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A change favored by consumer groups, colleges and most lenders that would require providers of non-federal student loans to get financial aid offices' approval before making such loans will not be part of sweeping legislation to re-regulate the U.S. financial sector, Sen. Chris Dodd (D-Conn.) said Tuesday . In introducing a compromise version of the financial reform measure, Dodd said that senators -- notably his Republican counterpart on the Senate Banking Committee, Sen. Richard Shelby of Alabama -- had refused to go along with House language requiring "school certification" of private loans. A broad coalition of higher education and financial aid groups supports the idea, which they argue would help assure that borrowers turn to more-expensive (and riskier) private student loans only after they've exhausted federal, state, and institutional grants, or at least less costly federal student loans.