Skip to comments.Ron Paul: End U.S. student loans
Posted on 10/23/2011 10:11:53 AM PDT by traviskicksEdited on 10/23/2011 10:43:06 AM PDT by Admin Moderator. [history]
WASHINGTON Republican presidential contender Ron Paul said Sunday he wants to end federal student loans, calling it a failed program that has put students $1 trillion in debt when there are no jobs and when the quality of education has deteriorated.
He’s got a point.
Whatever you subsidize, you get more of. Case in point.
Full video of Paul’s MEET THE (DE)PRESS(ED) today:
Time to burst the education bubble.
These accounts are known as "endowments". The way I've heard it, the interest alone could pay the tuition for every student that attends those schools.
That is to say, if Harvard, Yale and Columbia (and probably dozens of other schoos) truly cared about providing an education for those who could "least afford it", they could do so without a dime being picked from the taxpayers' pockets.
I wish I knew how to ping Ron Paul to suggest he bring this point up next time this issue is addressed.
I hadn't even hit the "Post" button yet.
Thanks for the assist.
Student loans are nothing more than price supports for Leftist professors and their institutions.
Oh, yeah. I forgot. Because they know they are creating a bunch of deadbeats who would never pay the money back.
Pop the bubble and institute Social Justice by making professor jobs only available to illegal aliens.
“eliminate five Cabinet departments”?
And how freaken many comissions and bureaus should be axed???
Within fifteen years...unless something changes the direction here....I can imagine a kid attending a fine outstanding school....and owing over $250k at the end. Personally, I can not imagine anyone ever being able to repay that...even by age sixty, unless you just live in your parent’s house for the remainder of your life and hope they will you their house. Pretty sad life to endure.
So his solition to no jobs is to stop student loans?
“eliminate five Cabinet departments”?
And how freaken many comissions and bureaus should be axed???
Yep - loans mean the colleges can charge more.
Our kids are going the military route to pay for college so we can use their college funds for things they want.
Federal student loans allow liberal institutions to keep liberal professors who donate some of that funding back to DNC bank accounts.
There is no difference between federal student loans and Solyndra.
My son was recruited by Harvard. He ultimately did not get in but during the process I learned that for families with under $100K tuition is free. For those over $100K you pay progressively more of the tuition depending on income.
A new form of slavery. Education can be so liberating.
Student loans are a racket to make slaves out of white middle class young people, and allow black and mexicans to have a degree at no cost to them.
The willing servitude of middle class America proceeds as planned.
You might appreciate this:
A Modest Proposal to Abolish Universities
7/2/06 Fred Reed
Bingo. Another incidious form of socialized re-distribution of subsidized money from taxpayers to leftist institutions that engage in propaganda and infecting the minds of those who become their political, cultural and economic slaves. It's the perfect con.
Even a stopped clock...
“So his solition to no jobs is to stop student loans?”
Talk about a red herring!
“Paul blamed government intervention in the economy for rising tuition.” That was from the article, see, I read it.
Show me a quote from the article that Ron Paul asserts that this plan of his IS to be a solution for jobs.
100k if gross income per year?
EXCUSE ME? How dare you say this. This is a racist comment!
Or better yet. Tie students being able to use loans at a college with some restraint on their tuition costs. That
would get the universities and colleges attention.
I'm not a fan of Paul but on this he is dead right.
We spend twice what we take in. There is no taxing our way out of that, there is no growing our way out. There is no serious way to contemplate balancing our budget that doesn't include eliminating whole departments of government.
If your government spends twice its income, it is attempting to do things it should not be doing.
Whole departments must be either divided up and handed off to the states. They can find ways to fund them if they want to keep them, or they can eliminate them.
Or privatize them.
Or simply eliminate them.
The federal government has no business being involved in education. It has no reason to own whole swaths of empty land taking up half the American West. Aside from office buildings and military bases, federal lands should be immediately handed back to the states (and in my opinion most of that should be auctioned off to the citizens).
Department of Energy needs to go. Likewise Department of the Interior. Likewise Education. Likewise Housing and so on down the line. Department of Transportation, Agriculture, divided up and handed off to the states for them to decide if the want them or not.
This government could run quite nicely and fund itself comfortably if you get it down to a half a dozen departments. A cabinet meeting ought to fit in the corner booth at Denny's. Its not just about budgets, its about freedom, but any candidate who doesn't understand that doesn't yet see the magnitude of the problem.
No. Banks should issue student loans (as they once did) and the government should have nothing to do with it. Do you disagree?
A student loan is not a subsidy you have to pay it back
My kids and husband took out loans for school and paid them back. I think it would be helpful if the Government was not making the loans but let private banks make them again.
He’s almost got the rationale, but in fact, student loan programs are a direct money funnel to Communists and Leftists who have overrun the campuses.
Higher education has become decoupled from vocation. What is the logical outcome for any industry which charges a high price for a product with little value?
Maybe that's how Obummer got to go there?
When I graduated from high school ('61) I looked into GM Technical Institute which granted BSME degrees and had a co-op program with GM divisions. I think tuition was folded into your salary during your six month OJT experience. I picked Chevy engineering for my division sponsor (I wanted to work for Zora Arkus-Duntov) and nearly made the cut. I was not selected because of my vision (20/400 uncorrectable right eye), Chevy required 20/20 uncorrected both eyes for anyone driving on the proving ground track. Damn!
I am white and I went to inner city schools where blacks thought that jumping whitey was great fun. And they got away with it too.
Was that YOU, probably not.
So, how many blacks are getting student loans, that they have to PAY back, vs white kids? Financial aid was set up to help minorities, NOT white kids. Reverse racism has been government policy since the 1960’s.
And YOU don’t decide who gets these loans, so NO, it is not racist at all. The “deciders” are the racists, in my book.
Hillsdale College accepts no federal funding of any kind, even federally subsidized student loans. They have their own loan program in addition to funding their scholarships and grants without any federal assistance of any kind. If little Hillsdale can do it any other college should be able to get by without federally subsidized student loans.
Yeah, the Ivy League tend to be better at getting their students scholarships. The people that pay very much to go to them tend to be legacy students or really wealthy. That’s one reason why it’s so hard to get into them. They are basically buying intelligent lower-income (by that I mean not-upper class) kids to keep up their prestige in the school rankings, and they can afford to do it.
The schools that soak up all the money for the student loans are state universities handing out a ton of women’s studies and other useless degrees and a few good private schools that aren’t quite Ivy League.
There goes half his political support. Most of his supporters want exactly the opposite. They want more student money and the canceling of their student debt. I guess they are all going to swing back to Nader now.
Hillsdale has a pretty big endowment for its size. They have a $302,000,000 endowment with an undergrad population of 1,402. That’s around $215K per undergrad student. Nowhere near Ivy (Harvard is 1.5 million per student), but nothing to scoff at either.
Yes he has a point, however, since he is in Congress, he should offer a proposal to end it. I’m sure he will find a cosponsor or two. What is stopping him from doing it??
You are very ignorant of the facts. I don’t care what school you went to and what race you are, your comments are racist. Every Black family does not have the same circumstances. I serve my country (over 23 years) and I have a Masters degree. I worked my way through college with 10 people in my family. Who are you to make such blatantly false comments as if you are the expert on who gets a loan in this country? Unbelievable!
I suppose the more relevant question is “what is the endowment per professor?”
(So far as I know, interest on endowments does not fund scholarships or student loans; it does pay professorships).
“Every Black family does not have the same circumstances.”
And where did I say they don’t? I didn’t at all.
For someone who doesn’t care what race I am, YOU have made it quite plain that YOU want EVERYBODY to know what race YOU are.
Prove my statement wrong, instead of carrying a chip on your shoulder.
And I am a DECENT of SLAVES.
Please stop with the nonsense. Your comments are insensitive and very racist. How would you like it if someone lumped in the same category with all Caucasians, including the ones who are benefiting from welfare when they can get up and work? You have no clue what you are talking about. What you are saying is due to pure ignorance.
Every Black family does not have the same circumstances.
And where did I say that? I didnt at all.
That chip on your shoulder is preventing you from seeing.
For someone whose NAME makes the race issue up front, you have no room to talk.
So, where the black kids who thought it was cool to shake down whitey for money because “whitey owes me” were racists, right?
Please stop with the racist comments. Examine yourself and see what motives are hidden in your posts.
Only racists go around and IDENTIFY themselves by RACE.
And blacks can be just as racist as any OTHER race.
I think the whole education system has changed since I was in school—it is even changing in the time that I put 3 thru for undergraduate degrees. I think in essence, the subsidies are really targeted to the university. Just like government involvement in medicare and medicaid has raised medical costs, government loans have raised educational costs and subsidize universities. So, yes,student loans are not a subsidy to the student as they have to pay it back. But many schools have spent millions in capital improvements and have huge endowments as well. They can only do that if they have a good cash flow which government provides.
For example, about 6 years ago, I was in the brand new student pool at UIC in Chicago; they have a water park. A water park?! With fountains, current stream paths for tubing and slides, etc. Oh, it was very nice, and a few students were taking a break on a Sunday afternoon, but is an extravagance that universities would not be able to afford if students and families had to pay more out of pocket—i.e. loans were kept smaller. I would think they would not build a facility like that in today’s economy. Education rises proportionately to the loan amounts...
Endowments can be setup for either purpose. Endowed professorships are usually their own separate fund. I don’t know if that’s counted in the university’s reported endowment fund.