Effective July 1, 2010, new rules go into effect for those taking out federal student loans. Now, only the U.S. Dept. of Education will offer these loans. In addition, interest for subsidized Stafford loans will decrease to fixed rate of 4.5% for undergraduates. The federal Parent Loan for Undergraduate Students (PLUS) will have a fixed rate of 7.9%. For other information on these loan changes, see the article "Student Loans Get a Makeover," by Jane J. Kim in The Wall Street Journal of July 3-4, 2010, at this link:
http://online.wsj.com/article/SB10001424052748704334604575338883122321008.html
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