Tomorrow, July 1, marks the first day of major changes to the student loan interest rates and repayment terms. The Department of Education has expanded its Student Aid on the Web site for students to include the following:

• A chart of FFEL and Direct Loan Interest Rates Effective July 1, 2009

• An Income Based Repayment page that includes the IBR eligibility requirements, the benefits of IBR, an IBR payment calculator, and some examples of how a borrower's monthly student loan payment amount can be reduced under IBR.

Posted 06/30/09 to www.NASFAA.org. Redistribution to non-NASFAA institutions is prohibited. Please submit Web site questions or comments to Web@NASFAA.org.