Student loan plan goes to President for signature - WTRF 7 News Sports Weather - Wheeling Steubenville

Student loan plan goes to President for signature

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West Virginia's two Republican members in Congress were happy to see the Student Loan Certainty Act of 2013 make its way to President Barack Obama.

Reps. David McKinley and Shelley Moore Capito issued statements about the loan solution, and both called it bipartisan.

The House supported a motion to concur with the piece of legislation the Senate passed last week.

"This plan brings certainty to students," McKinley said in his statement. "I'm pleased that our Senate colleagues finally agreed to this solution which benefits both students and taxpayers."

McKinley's news release said the plan protects students from high interest rates by setting a cap for rates on loans at the undergraduate and graduate levels.

Capito said she and her husband, who have put three children through college, are both aware of how difficult it can be to pay for higher education.

"Now that student loan rates will be based on the free market rather than the political winds of Congress, students and families will finally get the certainty they need," Capito said in her statement. "It is encouraging that the Senate finally put partisan bickering aside and joined the House in putting students and families ahead of Washington politics."

Sen. Joe Manchin, D-W.Va., issued a statement after the Senate's vote saying the plan puts student loan programs "on a secure financial footing for the future."

Rockefeller's statement said the plan was "far from perfect, but needed to protect students in the short term."

The President also issued a statement July 24, saying the compromise "is a major victory for our nation's students."