Political battle over student loans heating up

Democrats and Republicans alike say they want to prevent the cost of federal loans from ballooning for millions of students, the Associated Press reports. But the effort has evolved into an election-year battle each side is using to embarrass the other and spotlight its own priorities to voters. In the latest political chess move, Speaker John Boehner, R-Ohio, scheduled a House vote for Friday on legislation preventing the 3.4 percent interest rate on subsidized Stafford student loans from doubling as scheduled on July 1. In a bitter pill for Democrats, the measure’s $5.9 billion cost would be paid for with cuts from President Barack Obama’s health care overhaul bill. Boehner announced the vote in an abruptly called news conference Wednesday that followed days of pounding by Obama and congressional Democrats…

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