Student Loan Bill

   President Obama is threatening to veto the houses decision that will end up doubling student loan rates. According to this bill they would take $5.9 billion from a program within the health care law to help keep rates on subsidized undergraduate loans at 3.4 percent. If the law is not passed to keep the student loan rates at the current 3.4 percent then it will return to 6.8 percent which will be devastating to college students all over America.This 3.4 percent was set in 2007 by democrats to temporarily reduce interest rates for the seven million low and middle income undergraduates who receive subsidized Stafford loans. Many college students end up graduating in mounds and mounds of student loan debt and cannot find jobs that could possibly help them pay their debts off.