Minnesota Congressman John Kline will deliver the weekly Republican national address Saturday morning, focusing on the looming rate increase for college student loans.
Kline’s remarks will coincide with President Obama’s weekly address.
Kline’s office indicated he will urge Obama to press Senate Democrats to negotiate a deal to stop student loan rates from doubling on July 1. The House has already passed Kline’s bill that would tie student loan rates to 10-year Treasury notes.
Kline has said his bill is based on Obama’s request for a long-term, market-based solution to the student loan issue. Senate Democrats, however, have proposed freezing the current rates for two years while Congress hammers out a long-term solution.
“If the Senate doesn’t act, millions of new student loan borrowers could see their interest rates double in a matter of days,” Kline said. “Students and their families deserve better than 11th hour crises and weeks of uncertainty. It’s time to get politicians out of the business of setting student loan interest rates.”
Earlier this week, Speaker John Boehner sent a letter to the White House urging Obama to call on Senate Democrats to pass a plan to stop student loan rates from doubling that reflects the common ground shared by the President and House Republicans.
Kline last delivered the weekly national address in September, 2009 asking the President and Congress to hit the reset button on health care reform. Watch Kline’s 2009 weekly address here.