I believe subsidized student loans means the government covers your interest, yes. Though, really, all subsidized loans are the antithesis of a free market when you get down to it.

Killing subsidized loans on the surface sounds great; it means tax payers are not covering the portion of a loan that a private institution is giving (often for a tax break). The thing is, instead of the government (taxpayer) covering a portion of the loan- it will instead pay for all of it. Worse, instead of there being a bunch of avenues to qualify for a loan... there will be one.

Here's to hoping the Senate acts more rational then the House.