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I just read an article on the Yahoo news page, that Congress passed some deficit cuts that included this:

"Another $13 billion would be saved from student loan programs, in part by establishing a fixed 6.8 percent interest rate instead of maintaining lower variable rates."

In part? Does anybody know what other parts there are to this? And does this have to be approved by the Senate next or will this take effect soon? Is there somewhere else that I can look to find out info about this and other issues regarding student loans and our government?

I am in school now and won't be graduating until at least 2007 maybe 2009 if I decide to get a master's degree so this may have a huge impact for me, along with many other current students.

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