"As private education loans are becoming more scarce and expensive, the amount of federal Perkins loans - at just 5 percent interest, the best student loan deal available - is plunging," U.S. News & World Report reports. "College financial aid officers around the country are reporting that the amount of money in the Perkins pool has dropped so dramatically in recent months that U.S. News & World Report estimates perhaps 50,000 needy students who would have been offered the low-cost loans last year won't be offered one this year. In addition, even those who do manage to land a Perkins loan will likely see the size of the loan shrink. Other, more expensive federal education loans, such as Stafford and PLUS, will be available to every student and parent, however. Financial aid workers say the Perkins reductions are especially painful because Perkins loans go only to the poorest students and are such good deals."