President Obama Signs Student Loan & Road Rebuilding Bill
Washington, D.C. -
President Obama signed into law new legislation that congress passed recently keeping federal student loans at 3.4% and authorizes $100 billion to be spent on roads, highways and mass transit projects over the next two years. The legislation passed congress with overwhelming bipartisan support after once failing along party lines previously as an attachment to a larger bill.
Obama said "it will make a real difference" in remarks about the bills passage. He had made the issue of student loan rates an issue for several months, had it not passed, federally backed student loans would have jumped to 6.8%, nearly doubling already high loan payments on a workforce still struggling to make ends meet.