President Obama Calls Meeting to Stop Student Loan Rate Doubling in 6 days

    Comments: 0  | Leave A Comment
    Thursday, June 21, 2012

    President Obama renewed pressure on Congress to pass a law preventing student loan interest rates from doubling on July 1 from 3.4 percent to 6.8 percent on federally-subsidized student loans.

    Republicans and Democrats widely agree that a bill needs to be passed. They disagree on how to pay for extending the rate cut, with House Republicans hoping to find the money in one of the President’s health care reform programs and Senate Democrats looking to eliminate payroll tax breaks for some businesses.

    The House passed a version of the bill which would target reproductive and women’s preventative health care services to offset the cost. The President has threatened that version with a veto, though it is unlikely such a bill would pass a Democrat-led Senate.

    Watch the video here

    Make sure to like this on your Facebook page

    Join the Conversation! Share and Discuss!

    Tags: » » » » » »



    Get every new post delivered to your Inbox.

    Join 390 other followers