Lawmakers have known about the interest rate deadline for a year, after postponing the issue last summer. What has emerged instead is finger-pointing.
"As a result of their (Democratic) obstruction, interest rates on some new student loans will increase next week. The Republican House has already passed legislation and Senate Republicans, along with the President, are ready to pass bipartisan student loan reform that will ensure that student loan rates don't double on July 1st," a spokesman for Senate Minority Leader Mitch McConnell said in a statement on Wednesday.
By midweek several lawmakers had switched their tones from hopeful to pessimistic.
"This is not going to be pleasant," Representative George Miller, the senior Democratic member of the House Education and the Workforce Committee, told Reuters. "Students and their families are not going to be happy about this."
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