Variable Interest on Student Loans.

For those who aren't visitors to Sapere Aude, our I.U.-Indy law school blog, I've noted that there is a proposal in Congress to have variable rate student loans. Though it won't affect me, as this will be the last year I'll need loans I still feel this is a bad idea. Part of the idea is that they will cap the maximum interest rate at 8.25%. Every time the government comes up with a cap idea they tend to raise the cap later on. Income tax was NEVER supposed to be above 4%. Whoops!