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White House backs deal to hold down student loan rates

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(Globalpost/GlobalPost)

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)

http://www.globalpost.com/dispatch/news/thomson-reuters/130719/white-house-backs-deal-hold-down-student-loan-rates