Americans owe a staggering one trillion dollars on their college loans–and paying those loans back may get significantly more difficult for a significant portion of those college graduates in July. Interest rates on newly-issued Stafford loans are scheduled to double.
President Obama, who visited the young-voter-friendly territory of late night TV this week, urged college students and grads with loans to tweet about the hike with the hashtag "#Don'tDoubleMyRate.
And yet Friday, The White House said President Barack Obama would veto a Republican measure passed by the House to extend lower interest rates on federal student loans. Why? Because it takes money from a health care fund that benefits women.
A White House statement said Obama's senior advisers would recommend a veto if the House measure, which passed 215-195 on a largely party-line vote, were the effort to win Senate approval and reach the president's desk.
Tonight on Erin Burnett OutFront, a look at the student loan debate, and a new idea on the underlying issue: ensuring opportunity for all Americans to get a higher education. Join us OutFront tonight at 7 p.m. ET on CNN.