President Obama is set to sign a student load bill into law today.
The bi-partisan bill slashes interest rates on student loans. The house passed the measure late last month.
White House officials say the plan will save millions of students an average of $1,500 on loans they take out this school year.
Additionally, the President has scheduled a press conference for Friday afternoon.
He is expected to comment on his decision to cancel a summit with Russian President Vladimir Putin. President Obama canceled the summit after Moscow granted asylum to National Security Agency leaker Edward Snowden.
The president may also faces questions about the terror threat and political chaos in Egpyt.
WTVY will be carrying the press conference live at 2 p.m.