GOP Ignores Veto Threat, Passes Student Loan Bill [VIDEO]

Republicans have ignored a White House veto threat and passed a bill to keep interest rates on millions of federal student loans from doubling this summer.

The House approved the bill Friday on a 215-195 vote, despite pressure from conservative groups.

The election-year bill has evolved from a dispute over helping students into a battle between the two parties over how to help families cope with the weak job market and ailing economy.

The White House and most Democrats opposed the $5.9 billion bill because of how Republicans covered the costs: eliminating a preventive health care fund in President Barack Obama’s health care law. They say the program mostly benefits women, while Republicans

call it a loosely controlled slush fund.

(Copyright 2012 by The Associated Press. All Rights Reserved.)