Student loans

According to Sallie Mae, which owns or manages student loans for more than 7 million borrowers, the new repayment rate for student Stafford loans will be set on July 1 at 4.06 percent. That's nearly two percentage points less than it has been for the past year.

The new rate for PLUS loans, which are given to parents, will be 4.86 percent, down from 6.79 percent in the past year. The rates were determined by Tuesday's Treasury bill auction. (The Department of Education is expected to report the official rates by the end of the week.)

As a result, if you have one of these variable-rate loans, you'll automatically owe less money for the next year. But you may benefit even more if you consolidate your student loans at the new rates, which will be in effect for a 12-month period