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Bill Lowering Student Loan Interest Rates Heads to President

By KBJR News 1

Bill Lowering Student Loan Interest Rates Heads to President

July 31, 2013 Updated Jul 31, 2013 at 8:53 PM CDT

Washington, D.C. (NNCNOW.com) - A bi-partisan bill that would reduce the costs of borrowing for millions of students is on its way to the President's desk.

The US House passed the bill by a 392 to 31 margin.

The measure links student loan interest rates to the financial markets.

The bill offers lower rates for most students now, but higher ones down the line if the economy improves as expected.