White House Threatens Veto Of Student Loan Bill That Would Slash Preventative Care

The White House announced Friday morning that President Obama will veto a student loan bill that would maintain lower interest rates on Stafford loans by gutting the Affordable Care Act’s Prevention and Public Health Fund. The bill, H.R. 4628, would prevent interest rates on Stafford loans from rising from 3.4 percent to 6.8 percent on July 1. The Prevention Fund will “provide for hundreds of thousands of screenings for breast and cervical cancer,” the White House said in its statement and argued that while the administration “strongly supports serious, bipartisan efforts to prevent interest rates from doubling,” the bill “is a politically-motivated proposal and not the serious response that the problem facing America’s college students deserves.”

Zachary Bernstein