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House approves Republican-backed student loan proposal

By Bobby Caina Calvan

 |  Globe Staff  

  April 27, 2012

The congressional debate over extending a student loan program erupted into a partisan battle in Congress today, with Democrats and Republicans angrily accusing each other of exploiting the issue for political gain. House GOP leaders set aside a Democratic proposal that sought to finance the $5.6 billion program extension by stripping some tax breaks for oil and gas companies. Instead, a largely GOP majority approved a proposal to extend college loan subsidies by siphoning funding from health care programs.

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