WASHINGTON, D.C. - Senator Tom Harkin (D-IA) today announced several events in Iowa this weekend aimed at mobilizing students to prevent a rate hike on certain federal Stafford loans. On July 1st, the fixed interest rate of 3.4 percent on current loans is set to double to 6.8 percent on new loans. Some 7.4 million Americans students - including an estimated 255,000 students enrolled in Iowa colleges and universities - would be required to pay an average of $1,000 more in interest per year of school if this happens.
Senator Harkin has introduced the 'Stop the Student Loan Interest Rate Hike' - an immediate remedy that will freeze the interest rates on subsidized federal Stafford loans for one year. Though the bill is completely paid for by closing a tax loophole, Senate Republicans blocked a vote to even move forward on the bill.
A full list of his public events follows.
Friday, May 18th:
1:00 P.M. Student Loan Event
Location: Scott Community College
Kahl Educational Center, Room 1006
326 W. Third Street
Davenport
Senator Harkin will speak with students from Scott Community College, Palmer College of Chiropractic and St. Ambrose University about the impending rate hike and his work as Chairman of the Senate Health, Education, Labor, and Pensions Committee.
Saturday, May 19th:
9:00 A.M. Student Loan Event
Location: DMACC Urban Campus
1100 7th Street
Building 1, Room 103
Des Moines
Senator Harkin will speak with students from DMACC about the impending rate hike and his work as Chairman of the Senate Health, Education, Labor, and Pensions Committee.
11:00 A.M. Student Loan Event
Location: DMACC Boone Campus
1125 Hancock Drive
Room 171/173 (NE Side of the building)
Boone
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