Submitted by Tom on Wed, 2010-03-10 21:32
The student debt crisis should be a serious problem for Latham. In a LTE in the Ames Tribune, Susan Harrington points out one of Latham's worst policy positions:
My daughter is a junior in college and is already accruing interest at 6.8 percent on her federally-backed student loan. Our 30-year mortgage is less than 5 percent. So why is the federal government subsidizing private lenders to charge our students 6.8 percent interest? Ask your representative, Tom Latham.
March 2006, Amendment 772 to HR 609: Reduce the Raid on Student Aid Act of 2006 was presented to lower the student loan interest rates from 6.8 percent to 3.4 percent. Tom Latham voted no.
September 2007, HR 2669: College Cost Reduction and Access Act was presented to incrementally lower the current 6.8 percent interest rate for Federal Subsidized Student Loans and Federal Direct Stafford Loans every year until the rate is set at 3.4 percent. Tom Latham voted no.
September 2009, HR3221: Student Aid Program Modifications was presented for the establishment of the Federal Direct Perkins Loan Program and set the interest rate at 5 percent per year. Tom Latham voted no.
Tom Latham has taken more than $740,000 from the finance industry according to OpenSecrets.org, and he consistently votes to pile high-interest debt onto our college students. How does this help our young people?
Tom Latham has moved to Ames, but his no votes are against our students and the Ames community.
Susan Harrington
Ames