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House Approves Lower Rates On Student Loans

By Associated Press Posted August 1, 2013 at 7:06 am

WASHINGTON – A bill to cut the interest rates of new student loans goes to President Barack Obama for his signature.

On Wednesday, the House approved the bipartisan measure that calls for reducing the rates of Stafford subsidized and unsubsidized loans that had doubled July 1.

Interest rates would be tied to stock market performance.

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