Carolyn Kaster, Associated Press
WASHINGTON — President Barack Obama is threatening to veto House Republicans' student loan bill.
The White House Budget Office said Wednesday the GOP plan does not guarantee current low interest rates for students and creates uncertainty for them. The budget office says that if Obama were presented the current bill, officials would urge a veto.
The Republican-led House on Thursday was expected to pass a bill that would keep interest rates on subsidized Stafford loan rates from doubling on July 1. In exchange, interest rates on new loans would be variable, based on the markets, and change annually.
House and Senate Democrats have urged a two-year extension of current rates while lawmakers work on a long-term solution.
- Georgia girl struck by plane on Florida beach...
- Comic-Con's dark side: Harassment amid the...
- Trial begins for Salt Lake attorney seeking...
- The Great War: 100 photos marking 100 years...
- US Court: Virginia marriage is for all lovers
- Ground Zero cross can stay at 9/11 museum,...
- Be ready for 'prolonged' Gaza war, Netanyahu...
- NCAA settles head injury suit, will change rules
- US Court: Virginia marriage is for all... 43
- Federal land managers criticized over... 26
- Feds cap fines for not buying health... 22
- Obama maintains busy fundraising... 22
- After government topples crosses in... 19
- Fast food workers vow civil disobedience 15
- Gaza sides agree to lull but truce... 13
- Sarah Palin launches online... 10