Speaker: House To Vote Friday On Student Loans

By: AP
By: AP
The House is planning to vote on the bill President Obama discussed during a speech at CU. If passed, it will prevent interest rates on federal student loans from doubling this summer.

US Capitol Dome (AP)

WASHINGTON (AP) -- Speaker John Boehner says the House will vote Friday on a Republican bill preventing interest rates on federal student loans from doubling this summer. But the legislation will be paid for by cutting money from President Barack Obama's health care overhaul law.

With both parties competing for election-year support from students, Obama has been pressuring Congress to pass legislation keeping the current 3.4 percent interest rates on subsidized Stafford loans from doubling on July 1. Senate Democrats have introduced a bill that would do so, and would cover the $5.9 billion price tag by raising payroll taxes on the upscale owners of some privately owned corporations.

Boehner is trying to turn the tables on Democrats by scheduling Friday's vote, but paying for the measure in a way Republicans prefer.

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  • by Kandi Location: Colorado Springs on Apr 25, 2012 at 05:34 PM
    I know thats right FRED. The most I ever made in a year was a little over 20,000 and even that year wasnt nice.
  • by steve Location: cs on Apr 25, 2012 at 03:29 PM
    The Dems are so stupid. When you raise payroll taxes, or any taxes, on private companies, i.e. employers, they have to lay-off workers, or pass it on to survive in this crazy economy. I know from personal experience; two in my family own businesses.
    • reply
      by Fred on Apr 25, 2012 at 04:05 PM in reply to steve
      SO living on 700,000 is difficult for the wealthy? Try living on 16,000.
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