Congress approves student loan plan

By Jenna Johnson. The millions of college students and parents who will borrow money from the federal government for the coming school year can plan on much lower interest rates than originally offered, as the U.S. House overwhelmingly voted 392 to 31 on Wednesday to approve a Senate plan that would allow interest rates to move with the financial markets. The plan now goes to President Obama, who has already voiced support. House Republican leaders have deemed this a long-term solution, while many Democrats have said this plan will probably need tweaking in future years. Read more...