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Important Update: Changes in FDIC Deposit Insurance Coverage

The FDIC deposit insurance rules have undergone a series of changes starting in the fall of 2008. As a result, certain previously published information related to FDIC insurance coverage may not reflect the current rules. For details about the changes, visit Changes in FDIC Deposit Insurance Coverage. For more information about FDIC insurance, go to www.fdic.gov/deposit/deposits/index.html or call toll-free 1-877-ASK-FDIC (1-877-275-3342). For the hearing-impaired, the number is 1-800-925-4618.

Fall 2007

New Law to Reduce Student Loan Costs

On September 27, President Bush signed a new law intended to make a college education more affordable for low- and middle-income families by making changes in federal student loan programs.

One provision of the College Cost Reduction and Access Act would gradually cut in half the interest rates on subsidized Stafford loans during the next five years. Another new program, to start in 2009, will give eligible borrowers (based on their income or a financial hardship) more flexibility when making loan repayments.

Look for details in the coming months at www.students.gov, a U.S. government Web site for college students and their families.

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Last Updated 11/08/2007

communications@fdic.gov