U.S. President Barack Obama will sign into law Friday legislation maintaining funding for transportation projects and preventing interest rate increases on student loans, the White House said Tuesday. Obama will sign the bill at the White House alongside construction workers and college students. Congress approved the legislation last week. The President had made the expiring student loan interest rates an issue the last few months. The bill approves more than $100 billion for highway, mass transit, and other transportation programs over the next two years. The projects would have expired June 30. The legislation also maintains interest rates of 3.4 percent for subsidized Strafford loans for undergraduate college students that would have doubled for new loans starting July 1 if lawmakers had not acted.
