- Republicans on the U.S. House Committee on Education and the Workforce sent a letter Monday to President Obama asking for a long-term fix to the one-year student loan interest rate freeze extension, which was passed last June and kept the interest rate on federally subsidized loans to undergraduates at 3.4%.
- The rate extension was an issue that both sides of the aisle agreed on, but disagreed on how it should be paid for.
- The letter asked that the president present in his 2014 budget proposal an outline for a long-term solution that doesn't require taxpayers to bear the burden of fixing the problem.
From the article:
Republican members of the U.S. House of Representatives’ Committee on Education and the Workforce on Monday sent a letter to President Obama asking him to outline a long-term fix on student-loan interest rates that goes beyond the temporary one-year freeze enacted by Congress last summer. ...