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AUDIO:Student college loan rates hang in the balance as Congress battles President Obama

WASHINGTON, D.C. (WTVB) - Michigan Republican Congressmen Tim Walberg and Fred Upton voted yes as the House recently passed legislation tying student loan rates to financial markets. However, President Obama opposes the Republican bill because he says it fails to lock in low rates for students.

The President today is meeting with college students at the White House with a discussion on a pending hike in loan rates, which are set to double on July 1st without action by Congress.