WASHINGTON, July 11 — The House on Wednesday approved far-reaching changes in student aid programs, voting to cut $19 billion in federal subsidies to student lenders over five years, while increasing grants for needy students and halving interest rates on federally backed loans with the savings.

The bill passed 273 to 149 in a sometimes raucous debate, with 47 Republicans joining Democrats, who took control of Congress this year on promises to help the middle class with the escalating costs of higher education.

The bill marks a stark reversal of fortune for the student loan industry, which for over 10 years had largely enjoyed unflagging support under the Republican majority. Investigations by Congress, the news media and the New York attorney general bruised the standing of lenders, exposing systems of paying colleges commissions to win business, offering college officials free trips and other perks.

While President Bush opposes some elements of the bill, it is widely expected that a broad overhaul of student aid will become law this year. Mr. Bush himself has proposed cutting government subsidies to lenders by $16 billion. And the Senate is expected to pass legislation later this month that would reduce these subsidies by $18.3 billion, while increasing the maximum Pell grant, the nation’s major assistance program for low- and middle-income students, more swiftly than the House bill does.