text: He cut $12 billion from the student loan program.  \n\nThe new budget will make it impossible to consolidate student loans.  Plus it raises interest rates on all student loans (and making them fixed rate of about 2-3% more than what students are now paying), and thereby raising payments on all existing loans as well.  \n\nHere's lots of information:\n\nhttp://www.sfgate.com/cgi-bin/article.cgi?file=/c/a/2006/03/06/MNGICHJ8391.DTL