WKYT | Lexington, Kentucky | News

Obama signs student loan, road-building bill

WASHINGTON (AP) - President Barack Obama says a bill to keep construction workers on the job and prevent a spike in interest rates on new loans to college students "will make a real difference" for millions of Americans.

President Obama addresses a crowd of students from UNLV to urge Congress to act to prevent interest rates from doubling on student loans. He made the remarks on the last stop of his two-day swing out west for fundraising and official events.

WASHINGTON (AP) - President Barack Obama says a bill to keep construction workers on the job and prevent a spike in interest rates on new loans to college students "will make a real difference" for millions of Americans.

Obama signed into law legislation allowing more than $100 billion to be spent on highway and other transportation programs during the next two years. The projects would have expired June 30.

It also keeps interest rates of 3.4 percent for subsidized Stafford loans for undergraduates. The rates would have doubled for new loans beginning July 1 if Congress hadn't acted.

The president was joined by construction workers and college students for the bill signing at the White House. Obama signed the bill following a two-day bus trip through parts of Ohio and Pennsylvania.


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus

WKYT

2851 Winchester Rd. Lexington, Ky 40509 859-299-0411 - switchboard 859-299-2727 - newsroom
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 161644865 - wkyt.com/a?a=161644865