Bill Lowering Student Loan Rates Moves to President's Desk
Published August 1st, 2013
Another step forward to lowering interest rates for student loans.
The House of Representatives has approved a Senate bill to lower rates for millions across the country.
House members Brown, Nugent, and Yoho from North Central Florida ll voted for the bill, which was approved by a vote of 392- to- 31.
The bipartisan effort will link interest rates to existing financial markets.
The Federal student loan interest rates for undergraduate students will go back to 3.86 percent-- and rise as the economy improves.
Graduate student loan interest rates will drop to 5.41 percent.
Loan rates would be capped at 8.25 percent.
The bill is awaiting approval from President Obama.
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