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House works to head off costly loans

Student rates will double if Congress doesn't act

10:40 PM, May 22, 2013
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Seven million college students are on track to see their federal loan rates double this year unless Congress acts ahead of a July 1 deadline when subsidized Stafford loan rates will increase from 3.4 percent to 6.8 percent.

The U.S. House will vote Thursday on a Republican plan to head off the increase inspired by an unlikely source: President Obama.

"No one wants to see student loan interest rates double on July 1. The president put forth a plan in his budget to address the problem with a market-based solution, and my Republican colleagues and I worked in good faith to offer a proposal that ...

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If you've ever answered "Who has the ball?" with "It's halftime," you might recognize The Airhead. Check out the characters in our cartoon gallery of oddball fans.

Special Reports