WASHINGTON (AP) -- House lawmakers are ready to pass legislation that links student loan rates to the financial markets in spite of a veto threat from President Barack Obama.
Supported by Republicans, the bill would avoid a rate increase for students with new subsidized Stafford loans if lawmakers pass it, as expected, on Thursday. Democrats generally opposed the measure, which would provide some students a deal in the first years of the new system before ratcheting up interest rates later.
"As the economy continues to recover and at a time when market interest rates are at historic lows, m...
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PHILIP ELLIOTT, Associated Press
Associated Press