House OKs bill to cap student loan rates

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House OKs bill to cap student loan rates
from MarketWatch.com - MarketPulse
WASHINGTON (MarketWatch) -- Defying a White House veto threat, the House on Friday passed a Republican bill to keep interest rates on federal loans to college students from doubling on July 1. The nearly $6 billion cost of the House bill is paid for by taking money out of a prevention and public health fund included in President Barack Obama's health-care law. The White House issued a veto threat against the bill shortly before the vote. The bill passed on a vote of 215-195.