
**FILE** Democratic Sens. Jack Reed (left), of Rhode Island, and Tom Harkin (center), of Iowa, meet June 6, 2012, with college interns on Capitol Hill in Washington as they call for action on averting a July 1 doubling of interest rates on federal college loans for students. (Associated Press)

**FILE** Democratic Sens. Jack Reed (left), of Rhode Island, and Tom Harkin (center), of Iowa, meet June 6, 2012, with college interns on Capitol Hill in Washington as they call for action on averting a July 1 doubling of interest rates on federal college loans for students. (Associated Press)

Sen. Jack Reed (left), Rhode Island Democrat, and Sen. Tom Harkin (center), Iowa Democrat, meet on Capitol Hill on Wednesday with college interns as they call for action on averting a July 1 doubling of interest rates on federal college loans for students. More than 30 million Americans are repaying student loans. (Associated Press)

Sen. Jack Reed (left), Rhode Island Democrat, and Sen. Tom Harkin (center), Iowa Democrat, meet on Capitol Hill on Wednesday with college interns as they call for action on averting a July 1 doubling of interest rates on federal college loans for students. More than 30 million Americans are repaying student loans. (Associated Press)

Sen. Tom Harkin

Sen. Tom Harkin, Iowa Democrat, as chairman of the education panel had promised a reform bill in the spring. He is expected to present his plan Tuesday. (Associated Press)

"At a time when Congress is single-mindedly focused on our federal debt, how can we blindly maintain policies that foot the bill for students to attend schools that have proven to be such a bad investment?” said Sen. Tom Harkin, Iowa Democrat and chairman of the Health, Education, Labor and Pensions Committee.

Sen. Tom Harkin, Iowa Democrat, is chairman of the Senate Health, Education, Labor and Pensions Committee. (AP Photo)

**FILE** Sen. Tom Harkin (foreground), Iowa Democrat, joins Senate Majority Leader Harry Reid, Nevada Democrat, and other senators at a "Back Off Social Security" rally on Capitol Hill in Washington on March 28, 2011. (Associated Press)