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House Approves Controversial Student Loan Vote

House Approves Controversial Student Loan Vote
Posted May 23rd, 2013 @ 10:03am

(Washington, DC)  --  A controversial student loan bill is headed to the Senate after passage by the House.  The Republican measure would link student loan rates to the financial markets.  The vote was 221-198.  Passage by the Senate is unlikely and the White House has threatened a presidential veto.  Interest rates on student loans are now set by the government.  Without action by Congress, student loan rates are set to double on July 1st to six-point-eight percent for roughly seven-million borrowers. 

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