Speaker John Boehner (R-OH) held a news conference today to offer his plans for student loan interest rates, which are scheduled to double in July.
Speaker Boehner announced that the House would vote on Friday on a one-year extension of the lower interest rate. He criticized the President, saying he is "trying to create a fight where there isn't one."
Earlier today, Senators Durbin (D-IL) & Alexander (R-TN) took to the floor to talk about President Obama’s recent comments regarding student loan interest rates. Senator Alexander, a former Education Secretary under George H.W. Bush, introduced a new bill to help pay for the proposed student loan interest rate freeze.
President Obama went on a three-state tour this week to urge Congress to pass a bill keeping interest rates on Stafford student loans steady, a move which analysts say would cost the government around $6 billion for a one-year extension. The President spoke at the University of North Carolina and the University of Colorado at Boulder Tuesday, and spoke at the University of Iowa this afternoon.