The statement called for unity between the parties to address the issue.

“But now it’s time for them to stop refighting old political battles and prove they’re serious by proposing a real solution to keep rates low for students without burdening middle class families,” the statement reads. “We look forward to continuing to work with Congress to prevent rates from doubling and ensure that students continue to get a fair shot at an affordable education.”

Interest rates on subsidized Stafford loans will double to 6.8 percent after July 1 if there is no action from Congress before then. The higher rates would only effect students taking out new loans after July 1 and the rates would remain at 3.4 percent for loans taken out previously.

The bill blocked Tuesday, proposed by the Democrats, called for a $6 billion measure to prevent the rates from doubling. It was blocked when the Senate did not reach a majority in favor of opening the bill to discussion.

The Associated Press contributed to this report.