Influence Alley

Chris Frates On Power, People And Influence From Capitol Hill To K Street

McConnell Sounds Off on Student Loans in the Alley

By Chris Frates // June 21, 2012 | 2:37 p.m.

Senate minority leader Mitch McConnell answers questions from reporters in his office in the capitol on Thursday, June 21, 2012. (Chet Susslin)

President Obama took to the bully pulpit this afternoon to, once again, call on Congress to stop student loan rates from going up at the end of the month.

But in an interview today with the Alley, Senate Republican Leader Mitch McConnell called Obama's East Room speech political theater and said loan rates won't increase:

I think we'll reach an agreement, but the president wants to make a few more political points here before he does. This is kind of ridiculous. We've all agreed that we want to fix the problem. ...

I think the reason the president hasn't reached an agreement yet is they wanted to try to squeeze a few more political rounds out of this by trying to make it look like the Republicans are somehow anti-student. This is an agreement that will be reached. It's a manufactured controversy in the first place and certainly the student loan interest rates are not going to go up at the end of the month.