No more subsidized interest loans for grad students and the elimination for the interest rebates.

This is not good news for those of you that will be taking out your first loans for the classes starting in Fall 2012.

You can consolidate loans with an interest rate reduction of 0.5% with a max limit of 8.25%. However, that doesn't feel great after I've talked to some CRNAs who graduated between 5 and 8 years ago who consolidated at less than 3%.

This is the only site where I found a nice rundown on how it affects health professional grad students:
Impact of updates on student loan borrowers