The problem with Paul’s argument is that the only reason why the federal government offers student loans in the first place is because private loans are more expensive to pay back in the long run because interest rates are usually higher. Government is also not to blame for rising education costs. Universities make those decisions themselves and the costs are usually associated with accommodating larger student populations, buying new equipment and technology, and expanding the teaching staff. Things have changed a lot since Ron Paul went to school. More people want an education today because it is more accessible than it was when Paul attended. The key to America’s future is education and every American has the right to get one. If Paul would focus on creating well paying jobs so that students can get one when they finish their degree, student loan debt would not be such an issue. Paul’s plan would prevent millions of students from getting an education because they would not be able to afford one otherwise.
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