Thanks, Rep. John Kline – Student Loan Rates Double Today
July 1, 2013
Washington, D.C. – Today, interest rates on Stafford student loans are set to double and students and families nationwide have Rep. John Kline (R-MN) to thank.
After all, rather than craft a sensible, bipartisan compromise to avoid today’s outcome, as chairman of the House Education and Workforce Committee, Kline led House Republicans in passing a plan to avoid a doubling in student loan interest rates by allowing them to go even higher.
In fact, hard-working students and families will now be on the hook for Kline’s full-steam-ahead push for a plan that will increase students’ debt burden and which the Congressional Research Service found puts students in an even worse position than simply letting the existing rates double.
“When the seven million students that rely on federal student loans feel the pinch as their rates double today, they have one person to thank: John Kline,” said Andy Stone, Communications Director for House Majority PAC. “Kline could have chosen a path of bipartisanship and sensible compromise, but instead he plowed ahead with a plan that puts students and families in an even worse position than simply letting the existing rates double.”
John Kline is one of House Majority PAC’s top targets. In fact, House Majority PAC ran a $50,000 advertising campaign targeting Kline over his student loan interest rate plan.