Obama urges action to keep student loan rates low

Obama urges action to keep student loan rates low

President Barack Obama on Friday urged Democrats and Republicans in Congress to work together to keep student loan interest rates from doubling on July 1. There are several proposals on Capitol Hill for keeping rates low, but none have garnered bipartisan support. Earlier this month, the House of Representatives passed a Republican bill that would base interest rates on student loans on the 10-year Treasury note. In his brief remarks, Obama did not dwell on specific disagreements. The White House has threatened to veto the House measure. The bill does not set out a fixed single rate for the loan throughout its lifetime and does not include a guarantee that student borrowers don't have to pay more than 10% of their monthly income on repayment after graduation. Last summer, Congress passed a bipartisan measure to delay the interest rate increase for one year. Lawmakers said the two sides are not far apart.

This from the same guy who raised our taxes...Its for the children as you know.