Thanks to new financial aid rules approved by the U.S. Congress that make college loans more accessible, middle-income parents can get more help with covering college costs for the 1993 academic year. The change means that any family, regardless of income, can borrow money at low-interest rates. The new rules will enable students and their parents to obtain government loans they would not have been qualified for in the past. In addition, home equity will no longer be considered as part of a family's assets when determining a student's financial need, according to Ron Johnson, director of financial aid at UC Davis. "Students and parents will find that the new rules make it easier to apply, extend eligibility and increase the financial resources available for financial aid," says Johnson. He says now is the time to begin applying for student aid. The broadened eligibility rules will dramatically increase the number of applicants for both loans and grants. But unfortunately, unlike the increased availability for loans, money for federal and state financial aid grants has diminished because of the recession, according to Johnson.