House passes student loan rate fix; goes to Obama

By LIBBY A. NELSON | 7/31/13 7:04 PM EDT

A House vote Wednesday puts a decisive end to months of congressional wrangling over federal student loan interest rates.

The House overwhelmingly approved tying student loan interest rates to market rates and reversing an interest rate hike that took effect for some new loans July 1. The 392-31 vote comes a month after the interest rate for new, federally subsidized Stafford loans doubled.

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