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Obama urges Congress to stop hike in student-loan interest

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WASHINGTON President Barack Obama called on Congress Friday to prevent student loan interest rates from doubling to 6.8 percent, a move that many congressional Republicans denounced as a campaign stunt rather than an effort at real change. Obama made his pitch in reaction to the House of Representatives’ vote last week for the Smarter Solutions for Students Act, which would revamp the way student loan interest rates are calculated. Instead of Congress determining interest rates every year – resulting...

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