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The Senate is expected to vote today to approve a bill that would change how the government sets interest rates on federal student loans. The (S. 1334) was developed by a bipartisan group of senators and is backed by the White House. But there are still a few holdouts. One of their main beefs with the bill is that if interest rates rise over the next 11 years exactly as the Congressional Budget Office , the bill would save taxpayers $715 million compared to current law. Let’s put the $715 million in savings into context.

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