A bill to cut the interest rates of new student loans goes to President Barack Obama for his signature. The House last night approved the bipartisan measure that calls for reducing the rates of Stafford subsidized and unsubsidized loans that had doubled July 1. Interest rates would be tied to stock market performance.

Springfield Congressman Richard Neal says the House did the right thing when it passed on a 392 to 31 vote a measure that would link student loan rates to the financial markets.