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Most Michigan U.S. House members vote for student loan bill

WASHINGTON (WKZO) -- Legislation to roll back an increase in interest rates for certain government-backed student loans is headed to President Obama's desk.

Michigan's House delegation voted overwhelmingly in favor of the bill.  Only Democrat John Conyers of Detroit voted no, as the bill sailed through the House by a vote of 392-31.

The legislation rolls interest rates for undergraduates this fall to 3.9-percent, 5.4-percent for graduate students, and 6.4-percent for parents.

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