Democrats got the fight they wanted on student loans, but it’s backfiring on them with just 10 days to go before interest rates for millions of students are set to double unless Congress acts.
One year after Republicans were caught flat-footed on the need to keep student loan interest rates low, an issue vital to young voters, Democrats sought to capitalize on the matter. They took political advantage of Senate Republicans filibustering their plan, and were eager to blame the GOP for the looming rate increase. But in recent weeks Republicans have come up an effective response: Let’s just pass the president’s plan.
In doing so, Republicans have exploited a rare policy split between Obama and congressional Democrats on how to prevent federally subsidized loan rates from automatically doubling from 3.4 percent to 6.8 percent on July 1.
They’re even admitting that there has been a divide between the president and congressional Democrats all along on this issue but are attempting to make the case that the GOP is pitting them against one another.
I would also like to remind the Democrats on the Hill than any opposition to a Barack Obama policy position is racist.