House Speaker John A. Boehner (R-Ohio) told Republicans Thursday that he expects Congress to be unable to find a compromise to ensure student loan rates do not double July 1, assuring colleagues that a recalcitrant Democratic-led Senate would be to blame for the rate hike.
At a closed-door meeting for House Republicans, Boehner characterized the issue as a crisis manufactured by Democrats in a year when the election will be dominated by job creation, according to a source who was in attendance.
Boehner’s comments were first reported by Politico and quickly drew an angry response from Democrats, who said they indicated that Republicans were ready to give up on the issue and let loan rates rise for seven million students.
President Obama has been traveling across the country, campaigning on college campuses about the need for congressional action. Both parties have said they oppose letting rates rise, but they’ve been unable to agree on how to pay for the change.