Obama renews push for student loan rate freeze

AP News
Posted: May 04, 2012 12:21 PM
Obama renews push for student loan rate freeze

President Barack Obama says college students shouldn't have to pay higher interest rates on their loans just because Congress can't get its act together.

Obama is speaking to students and parents at a high school in Virginia, a general election battleground state. He called on Congress to keep interest rates on subsidized student loans at 3.4 percent for another year.

Republicans want to pay for the freeze on interest rates with a health care spending cut, but Obama says they are targeting coverage for women. The president says there shouldn't be a choice between women's health care or student loan costs.

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Democrats want to pay for the loan freeze by raising tax revenue. The Democratic-controlled Senate is scheduled to vote on the issue Tuesday.