Weather Alert

MODERATE TO HEAVY SNOW STORM WED. AM THROUGH WED. NIGHT

Low pressure developing off the Southeast coast will quickly move northeast tracking south of New England through Wednesday night as colder air arrives to produce a moderate to heavy snow storm for much of the region.  Snow will develop quickly Wednesday morning and fall heavily at times through the afternoon and evening before tapering off and ending before daybreak on Thursday.  Expect difficult travel conditions with snow packed roads and low visibility through the duration of this storm.  Click Here for the CBS6 Weather Forecast Page

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The following is an archived video story. The text content of that video story is available below for reference. The original video has been deleted and is no longer available.

House approves lower rates on student loans


WASHINGTON (AP) -- At least for the coming school year, a bipartisan bill passed by the House will lower the cost of borrowing for millions of students.
 
The measure, which passed on a vote of 392-31, awaits the signature of President Barack Obama.
 
Undegraduates this fall will borrow at a 3.9 percent increase rate for subsidized and unsubsidized loans. Graduate students would have access to loans at 5.4 percent, and parents would borrow at 6.4 percent.
 
The rates would be locked in for that year's loan, but each year's loan could be more expensive than the last. That's because interest rates will be linked to the financial markets. That means the rates will climb as the economy improves.
 
Interest rates would not top 8.25 percent for undergraduates. The White House endorsed the deal over objections from consumer advocates that the proposal could cost future students.
 
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