The world of student loans just became more complicated, unfair and expensive for some borrowers, while others are about to get a great deal! It all depends on whether you're borrowing now — or dealing with loans from the past.

Interest rates on older, variable-rate Stafford loans are about to be cut in half — to 3.61 percent from the current 6.62 percent — starting July 1. The cut comes because rates on those older loans are tied by formula to the T-bill auc ...

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