The lawmakers also discussed with Mr. Obama the need to lower interest rates on student loans. Rates on federal Stafford loans doubled on July 1 to 6.8 percent because Congress didn’t avert a rate hike built into the law.
House Republicans have passed a bill that would link rates to the financial markets and keep rates low in coming years. But Senate Democrats opposed to the GOP plan haven’t found enough support to surmount procedural hurdles. Senate Majority Leader Harry Reid, Nevada Democrat, said he will bring up the issue for a test vote again on Wednesday.
Mr. Clyburn said he told the president that the high cost of student loans is “very, very serious for us.”