President to sign highway, student loan funding bill Friday

President Obama on Friday will sign the combined transportation, student loan and flood insurance bill at a White House event.

The White House said Tuesday that Obama would sign the measure authorizing $105 billion for spending on road and transit projects over the next two years in an event with construction workers and college students. 

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The ceremony will follow a two-day bus trip through Ohio and Pennsylvania for Obama. That trip concludes with an event in Pittsburgh Friday afternoon.

Obama is also timing the signing for the June jobs report, which will provide the latest snapshot of the U.S. economy. Obama has touted the transportation bill as a job creator.

The combined bill extends federal transportation spending for two years, federal floor insurance for five years and keeps a 3.4 interest rate on federal Stafford student loans for one year.