Changes in the federal student aid program will lessen interestrates for some students while increasing the amount they can borrow.
Among the biggest changes that went into effect Tuesday, theinterest rate on new, subsidized Stafford loans to undergraduatesdrops from 6.8 percent to 6 percent. Subsidized Stafford loans areawarded to lower-income students, and the government picks upinterest payments while students are still in school.
The rates are slated to continue to decline in stages over thenext five years, part of congressional measures approved last yearto increase student aid.
Earlier this year, responding to the credit crunch, Congress alsoapproved …
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