A number of important changes are looming for federal student aid, which may save you some serious cash. Here’s a quick look at the most significant developments: Interest rates on subsidized Stafford loans are dropping — This year, they will go from a 6% to 5.6% (fixed). Under the College Cost Reduction and Access Act of ‘07, the rate will continue to drop until 2011-2012, when it will reach an all-time low of 3.4%. Unfortunately, the lower rate only applies to loans taken out — or consolidated — in that academic year. Remember, with a subsidized loan, the federal government pays your interest while you are in school. Income-based loan repayment — I won’t bother rehashing the details, since I’ve covered them extensively in earlier posts. ...