By: Carolyn Appel

The House of Representatives: The House voted to approve the Offshore Energy and Jobs Act in a vote of 235 to 186.  The House Energy and Water Subcommittee on Appropriations marked up their bill.

The United States Senate:  Last week, the Senate passed the Comprehensive Immigration Reform Bill by a vote of 68 to 32.  In a rare move, all 100 Senators voted from their desks.  The Senate also passed a resolution honoring the 150th anniversary of the Battle of Gettysburg.

Both the House and Senate are in recess for the July 4th holiday.  When they come back, look for a fight on student loan interests rates.  As of today, subsidized (loans for which the interest is paid while the student is in school) undergraduate interest rates will rise from 3.4% to 6.8%.  Interest rates for unsubsidized undergraduate loans and all graduate loans will remain at 6.8%, and interest rates for PLUS loans will remain at 7.9%.