The U.S. House of Representatives voted 215-195 on Friday to keep student loan interest from doubling on July 1. However, Democrats in the Senate and President Obama are expected to reject the legislation because it uses money set aside to pay for preventative health care to pay for the continued lower interest rates on student loans.
Democrats want to instead tax wealthy corporations more to pay for the loan legislation. Because the House is controlled by Republicans and the White House and Senate are controlled by Democrats, no one is sure what a compromise on the student loan legislation would end up looking like.
The first three minutes of this video give an overview of the House vote and politics behind the student loan bill, while the rest is an interview with two experts on the topic.
"When we look at this health care fund that they want to gouge, it's because health care is one of the issues that women most care about." - Rep. Gwen Moore (D-Wis.)
"And now, now we're going to have a fight over women's health. This is the latest plank in the so-called war on women, entirely created by my colleagues across the aisle for political gain." - Speaker of the House John Boehner (R-Ohio)
1. How does a bill become law in the U.S.?
2. What are student loans? Why do people use them?
3. What are the two major political parties in the U.S.?
1. Do you think Republicans and Democrats will be able to find a compromise on the student loan bill? Why or why not?
2. Where do you think the money should come from to pay for the student loan bill? Why?
3. Why does not raising interest rates on student loans cost the government money?
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