Posted: Fri, April 27 2012 at 10:32 AM, Updated: Fri, April 27 2012 at 10:34 AM
A bill keeping student interest loan rates from doubling passed the house of representatives early Friday afternoon Eastern time.
NBC News says the house passed the interest rate reduction act with a 215-195 vote...led by gop lawmakers who ignored a white house veto threat on the measure. The white house and most democrats oppose the 5.9 billion dollar bill because the way republicans cover its costs...by taking funds from preventive programs in president Obama's health care law.
The bill now heads to the senate...where its expected to be ignored.
The democrat controlled senate is likely to pass their own version.