Are you planning to go back to school? Do you talk with students who are interested in college or job training? Do you have kids or grandkids who want to further their education? Do you have a student loan or know someone who does? Then you likely have questions about the federal student loan programs.

Do you want to know about loan deferments for the military? What about graduates who have loans they are having trouble re-paying? If you lose your job or take a pay cut, what new options are available to you for paying your loans? What changes were made to Upward Bound, to Pell Grants, and to student loan eligibility? What will be the interest rate on a Federal Family Education Loan or a Direct Loan in 2010 when you’re ready to go, or go back to, school? What has changed in the way the federal government calculates how much money they’ll provide for a loan or grant?

An easy way to find the answers is finally here – the U.S. Department of Education’s Dear Colleague Letter on the College Cost Reduction and Access Act. Just click here to download an understandable explanation of the changes made by the College Cost Reduction and Access Act.