"The world of student loans just became more complicated, unfair and expensive for some borrowers, while others are about to get a great deal," The Chicago Sun-Times reports. "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 nearly 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 auction that took place the last week of May."