Washington ( CNN ) -- Senate Republicans will block Democrats from taking up a White House-backed bill to cap rates on some student loans unless Democrats allow a vote on a GOP alternative , the second-ranking Senate Republican said Monday . Arizona Sen. Jon Kyl predicted such a confrontation could lead to an ultimate compromise on the legislation before rates are set to double in July , something lawmakers from both parties and the White House want to prevent . `` We 'll defeat cloture , '' Kyl said , using the legislative parlance for a key procedural vote scheduled for Tuesday that requires 60 votes to succeed . If Republicans prove Democrats ca n't move a bill without GOP support , `` I presume leaders in the House and Senate will get together and find a way to ensure the interest rate does n't double , '' Kyl said . An aide to Senate Majority Leader Harry Reid , D-Nevada , said negotiations over the issue are still under way . Interest rates on federal student loans are scheduled to double from the current 3.4 % in July unless Congress acts . But Democrats and Republicans disagree over how to offset the $ 6 billion it would cost to keep the rates down : Democrats want to eliminate a tax break for some corporations while Republicans want to pull funds from a preventative health care fund set up under the health reform law . Each spending plan is opposed by the other party . President Barack Obama has led a high profile , multi-pronged lobbying push to pressure Republicans to support the Democrats ' bill . Kyl said Republicans are `` really disappointed '' Reid has not agreed to hold a vote on the Republican funding alternative .
Harry Reid says Democrats want a House vote on their plan . Federal student loan rates are scheduled to double July . Republicans and Republicans are divided on how to fund an extension of the lower rate .