Fox 2 Video: How Should Congress Handle the Student Loan Rate Crisis?

College students and their families have been keeping tabs on Congress for the past few weeks with the possibility of federal student loan rates increasing.

If Congress doesn’t act by July, the rates for the Stafford federal loans will go from 3.4 to 6.8 percent.

While Democrats and Republicans agree that the rate needs to remain at the 3.4 level, they haven’t agreed on how to get it done.

Sen. Roy Blunt (R-MO) publicly stated that he supports a proposal to extend the low interest rates for students, according to Missouri New Horizon. In addition, the article states, “The issue at hand now is how to fund the increase. Republicans are calling to pull the funds from President (Barack) Obama’s health care law, while Democrats want the extension to be funded by closing a tax loophole on wealthy individuals.”

Earlier this week, on Fox 2 News, Rep. Russ Carnahan (D-St. Louis) said that there are better alternatives to keeping the rate low than pulling from the healthcare law. 

What would you like to see happen? What do you think should be done about the student loan rates?