That sounds like how my rehab was treated, but mine still listed out the original loans.
Is the start date for the new loan correct? If it's a consolidated loan, it would have a recent opened date; rehabbed loans will have the original date (which makes me wonder how they're reporting the opened date since it was 5 lines, presumably from different semesters/terms).
I suppose the good news (at least) is that the opening date is the "best" one you could have hoped for.
Good luck with whatever avenue you pursue!
Just wanted to pop in and say please, please, please keep on top of this. If you don't hear anything about continuing payments/from a new servicer within 2-3 months, please start making phone calls. I did not and the servicer lost my loan and it's biting me in the rear right now (see my thread "collection agency doesn't want me to rehab" for the whole messy saga). Never got paperwork that I'd finished my rehab or anything. What a mess. I hope your experience is 1000x better than mine has been.