Bush recently announced plans to prevent a possible Social Security crisis by privatizing the program, which would allow people to invest about four percentage points of their taxes into personal stock and bond investments.
Santorum, who is chairman of the Senate Republican Conference, will discuss bipartisan reform proposals dealing with the future of Social Security and answer questions.
Midori Valdivia, Political Science Association president, said Social Security is a debate that will directly affect students in a very tangible way.
"This ultimately talks about the welfare system in the United States and how government is involved in our daily lives," Valdivia said.
Santorum's office requested to visit Penn State, and the Political Science Association has been working with the office to organize the event, Valdivia said.
"It is an issue young people today should be intimately involved in because it directly affects their retirement savings," said Charles Gable, Penn State College Republicans staff adviser.
"Students should take time to personally address [their] representative from Washington," he added.
College Democrats President Megan Green said Santorum is probably coming to Penn State to generate support for Bush's proposed reforms, since polls show college- aged students are divided on the issue.
"We are the people that really need to be swayed," Green said.
Green added that she is attending the speech because it is important for students to make informed decisions about their future.
"Students also need to be ready to ask questions to find out specifically what changes are being made and why," Green said.
Bob Shepherd, Centre County Democrats chairman, said Social Security is a "wonderful" system now and believes some Republicans are both attacking and trivializing it. He added that he disagrees with Bush's plans for privatizing personal accounts in Social Security.
"They are just drooling in Wall Street waiting to get all that money," Shepherd said. "It's going to go to them and not the people with the individual accounts."
But Glenn Thompson, Centre County Republicans chairman, said he believes privatization is a critical component for preventing Social Security funds from running out by 2042.
"He's going to give it a good honest look," Thompson said.
"This is the first time a president has really tried to tackle such an important issue like this," he added.
Thompson said personal accounts are good, and critics, including many Democrats, exaggerate Bush's proposed Social Security changes.
"It's good that he's taking proactive steps to promote this important issue," Thompson said.
"It's partially to make young people aware, but also for people like me who will be retiring when problems are expected to come," he added.