Congress OKs Student Loan Bill - KALB-TV News Channel 5 & CBS 2

Congress OKs Student Loan Bill

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WASHINGTON (AP) - Congress approves the bill averting a hike in college loan interest rates and saving 2.8 million jobs.

The bill is a massive measure that will salvage some 2.8 million jobs and shield college students from sharply higher interest rates on college loans. The bill would also shore up the federal flood insurance program.

The Senate approved the bill by a vote of 74-19. The House passed the bill earlier in the day and it now goes to the White House for President Barack Obama's signature.

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