Minnesota Congressman John Kline's bipartisan legislation, the Smarter Solutions for Students Act (H.R. 1911) that will prevent subsidized Stafford loans from doubling on July 1, passed the U.S. House of Representatives today. H.R. 1911 reflects President Obama's request for a long-term, market-based solution to the student loan issue.
"Today the House has taken action to prevent interest rates from doubling on millions of student loan borrowers," said Kline, the Chairman of the House Education and the Workforce Committee. "President Obama asked for a long-term, market-based solution and that is precisely what we have delivered. It is now up to the Senate to move forward with its own ideas to solve the problem, so we can come together and send a bill to the president. The American people sent us here to tackle tough issues, not kick the can down the road. The time to act is now. Students, families, and taxpayers cannot afford further delay."