White House threatens to veto student loan bill
- The White House threatened Wednesday to veto Minnesota Rep. John Kline's student loan bill.
- The bill, which would primarily connect student loan interest rates to the cost of federal borrowing, is similar to proposals made last month by President Obama, but it has rates that vary from year to year, are set slightly higher and doesn't include additional college affordability initiatives.
- A White House statement that advisers would recommend the president veto the bill "in its current form" implies a compromise could be reached, but a statement issued by Kline Wednesday afternoon accused the White House of picking a partisan fight with Congress.
From the article:
There is a little bit of overlap between student loan interest rate reform proposals from Minnesota Rep. John Kline and President Obama, but not enough for the latter to sign the former's into law. ...
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