Obama renewing push for lower student loan rates

AP News
Posted: May 03, 2012 10:01 PM
Obama renewing push for lower student loan rates

President Barack Obama, Vice President Joe Biden and members of Obama's cabinet are mounting a renewed campaign to extend low interest student loans for another year, pushing a topic that has reignited partisan fights over women's issues and health care.

Obama plans to speak to students and parents at a northern Virginia high school on Friday. Cabinet members will make their case across the country next week.

At issue is an effort to keep interest rates for subsidized student loans at 3.4 percent for another year. Republicans want to pay for that with a health care spending cut. Obama has threatened a veto. Democrats want to pay for it by increasing tax revenue.

The Democratic-controlled Senate is scheduled to vote on its version Tuesday.