Heart On Loan
CommieTommie Harkin came back to Iowa in an effort to create a crisis over a possible increase in interest rates for Direct Stafford Loans.
Harkin stated, “This is another kind of tsunami about to happen”.
CommieTommie's all wet and the scientific community is united in that fact.
The rate increase 3.4 percent to 6.8 percent amounts to $6 per month on new loans, but the cost to taxpayers is $6 billion to provide this subsidy.
Suck it up students by sucking on a couple less party pops per month, or buying less brew at Starbucks.
Students with existing loans were all a twitter fearing the results if rates increase.
No worries -- Existing loans are unaffected.
CommieTommie could have soothed those fears, but he's either ignorant of the facts or playing politics.
Upon further review, it's probably both.