Lawmakers Vote on Student Loan Interest Rates

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A new bill passed by the U.S. House of Representatives could give college students in our area a big break.

The House voted to cut student loan interest rates in half from 6.8 percent to 3.4 percent by 2011.

The bill would affect five and a half million students who receive subsidized loans every year.

"I think it would be a good opportunity for other students to be able to come to college and not have to worry about paying those loans back, even though they would have to, but they could do it at a more cheaper rate after they graduate," said FAMU sophomore Porche Anthony.

The Bush administration opposes the bill, and it still needs to be passed by the Senate.