Dive Summary:

• On Wednesday, White House Press Secretary Jay Carney told reporters that President Obama will host a White House event on Friday urging Congress to take action on "a proposal that guarantees students a low rate" on loans. 
• On July 1, interest rates on subsidized Stafford loans are set to double from 3.4% to 6.8%.
• House Republicans have proposed a bill on the issue, but the White House believes it will have a disproportionately negative impact on low- and middle-income families and students.

From the article:

"While we welcome that House Republicans have paid some attention to this issue this year, their proposal unfortunately does not meet the test," Carney said. Obama has threatened to veto House Republicans' bill to deal with the issue, which would stop the rates from doubling this summer, but allow them to move with market rates in the future. The administration contends that the GOP plan would disproportionately hurt low- and middle-income people who rely on loans to be able to pay for postsecondary education.