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White House Promises to Veto House Republican Student Loan Bill White House Promises to Veto House Republican Student Loan Bill

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WHITE HOUSE

White House Promises to Veto House Republican Student Loan Bill

The White House on Friday threatened to veto legislation proposed by House Republicans that would stave off a scheduled interest rate hike for subsidized student loans, saying the bill would harm women who need screenings for breast and cervical cancer.

Republicans have proposed paying for the student loan bill, which would hold interest rates at 3.4 percent for one year, by tapping a health care prevention fund that was part of President Obama’s health care law.

 

The veto threat sets up a battle between Republicans and the White House in the coming months ahead of the June 30 deadline when the student loan interest rates will double.

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