Senate Minority Leader Mitch McConnell blamed ObamaCare for causing higher student loan rates. Part of the Affordable Care Act, also known as “ObamaCare,” abolished the student loan program where Congress stopped allowing private banks to provide student loans.
When private banks were able to give loans, they based their decisions on how much private loan credit a person had. As most young people didn’t have a credit established to take out large loans, they would need a co-signer. A co-signer would have most of the responsibility of repaying loans.  Since the government provides loans, and banks are no longer able to offer any type of aid to students, interest rates with student loan debts are likely to rise. 
The Medicaid cost increases related with healthcare law forced states to raise tuition rates and negatively affect college students. Rates on federally-backed student loans are set to jump from 3.4 percent to 6.8 percent in July. McConnell commented that Medicaid cost increases related with healthcare law forced states to raise tuition rates.