The White House is "pleased" that Senate leaders have reached a deal on student loan interest rates, per a statement from Press Secretary Jay Carney.

"We’re pleased that the Senate has reached a deal to keep rates low and continue offering hard-working students a fair shot at an affordable education," Carney said. "Higher education has never been more important to getting a good job. That’s why President Obama has made stopping this rate hike and saving 7.4 million students an average of $1,000 a priority since his State of the Union and has repeatedly called on Congress to act. We hope that Congress will complete the legislative process and send a bill to the President as soon as possible."