Another year, another political fight over student loan rates.
President
Obama gathered college students at the White House on Friday to urge
Congress to extend a special college loan program before it expires on
July 1 and interest rates double.
"Can anybody here afford that?"
Obama asked the students surrounding him. "Higher education cannot be a
luxury reserved for a privileged few."
Congressional
Republicans denounced the Rose Garden event as an exercise in cynicism,
stressing that the Republican-run House has already passed a student
loan bill; the Democratic-run Senate has not acted.
"Here's
one issue where the two parties can and should find quick agreement,"
said Senate Minority Leader Mitch McConnell, R-Ky. "Unfortunately, the president appears more interested in needlessly stoking partisan divisions in Washington."
The dispute concerns the details of a revamped program. The House bill provides for variable interest rates, while the White House proposal would lock in rates.
"The House bill isn't smart and it's not fair," Obama said.
House
Speaker John Boehner, R-Ohio, said the differences between the House
and the White House "are small" and can be "overcome quickly." But "rather
than working to resolve the issue, the president resorted to a campaign
stunt to try to score political points," Boehner said.
The
two sides staged a similar debate in 2012 -- an election year -- and
eventually agreed to a one-year extension of the program. That extension
expires on July 1.
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