09/03/2010 05:12 am ET | Updated May 25, 2011

College Loans: Now Cheaper And Easier

Now that the hype surrounding the government's overhaul of the scandal-tinged federal student loan program has settled, students and parents seeking loans for the 2010-11 academic year are getting some good news: Many federal education loans will be cheaper, easier to get and easier to repay than they've been in recent years.

On July 1, the federal government lowered the interest rates on many student and parent loans, and it now makes loans directly instead of through a bank.

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