Ron Paul: End Federal Student Loan Program
Ron Paul called for an end to federal student loans programs Sunday on NBC’s “Meet the Press,” calling the program a failure that has launched students into $1 trillion in debt, reports Fox News
Paul said that the debt accrued by students, coupled with the fact that there are no jobs, and the decrease in the quality of education, has made the program a failure.
Paul went on to blame rising tuition costs on the government’s intervention in the economy.
“Just think of all this willingness to want to help every student get a college education,” Paul said. “I went to school when we had none of those. I could work my way through college and medical school because it wasn’t so expensive.”
According to The Federal Reserve Bank of New York, students and parents took out $100 billion last year to may for college, and owe more than $1 trillion on outstanding loans.