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House passes student loan deal, bill goes to Obama. The House approved a measure Wednesday to link interest rates on student loans to financial markets, sending the compromise legislation to the president’s desk after a lengthy back-and-forth between Congress and the White House. The vote was 392-31. President Barack Obama is expected to sign the legislation into law. The move will reduce student loan rates in the short term — after they doubled on July 1 to 6.8 percent. Source by artsychica2012