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.
- 17 years later, parents find kidnapped...
- The 20 most innovative tech hubs in America...
- Can you name your U.S. Representative? See...
- Couple married 67 years dies holding hands
- 34 of the best Lemony Snicket quotes
- Debates rage over color of dress photographed...
- Congress OKs 1-week bill to keep Homeland...
- Leonard Nimoy, famous as Mr. Spock on 'Star...
- Gov. Herbert: 'Let chips go where they... 70
- Defying GOP, Obama vetoes Keystone XL... 51
- FCC approves 'net neutrality' rules for... 26
- Congress OKs 1-week bill to keep... 23
- Clinton says she would push... 16
- Calling for cooperation, Obama engages... 15
- Democrats caught between Obama,... 15
- 'Jihadi John' seen in beheading videos... 13