Thursday, July 18, 2013

Reuters: Politics: White House backs deal to hold down student loan rates

Reuters: Politics
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White House backs deal to hold down student loan rates
Jul 18th 2013, 12:16

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Graduating students arrive for Commencement Exercises at Boston College in Boston, Massachusetts May 20, 2013. REUTERS/Brian Snyder

Graduating students arrive for Commencement Exercises at Boston College in Boston, Massachusetts May 20, 2013.

Credit: Reuters/Brian Snyder

WASHINGTON | Thu Jul 18, 2013 8:16am EDT

WASHINGTON (Reuters) - President Barack Obama supports compromise legislation holding down interest rates on student loans and was involved in Senate negotiations, a senior administration official said on Thursday.

U.S. senators reached a deal on Wednesday to temporarily hold interest rates on student loans at lower levels, as they raced to get the measure completed before an August deadline, a Senate aide said.

(Reporting by Mark Felsenthal; Editing by Vicki Allen and Philip Barbara)

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