President Bush opposes a bill that would halve the interest rate on federally subsidized student loans, the White House announced on Tuesday.
The announcement, which came the evening before the U.S. House of Representatives was scheduled to take up the legislation, stopped short of saying the president would veto the bill, HR 5. But it strongly hinted at that possibility.
"The administration opposes HR 5," the White House statement reads in part. "Reducing student-loan interest rates would direct federal subsidies to college graduates, not to students and their families who are struggling to meet current and future educational expenses."
Source: Chronicle of Higher Education
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