Ron Paul Wants To Eliminate Federal Student Loans

GOP presidential hopeful Ron Paul said on Sunday that he wants to end the federal student loan program which he says has “failed” after students in the U.S. have racked up more than $1 trillion in student debt. According to Paul the education system in America has deteriorated which has led many students to high loan amounts with zero job prospects.

Ron Paul’s proposal to cut the loan program comes less than a week after he issued a $1 trillion federal budget cut plan which included eliminating the department of education.

Speaking with NBC’s Meet The Press Ron Paul said he would likely cut the program if he were to become President, he also blamed the rising costs of tuition on government intervention in the economy.

According to Paul:

“Just think of all this willingness to want to help every student get a college education,” while adding “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.”

Here’s a video explaining Ron Paul’s attempt to cut $1 trillion from the U.S. federal budget (Please Note: Federal student loan cuts are not reflected in this plan):

Do you believe that cutting out the federal student loan program is a smart decision or should the U.S. government work on lowering tuition costs so the amount of loans required by students are lessened?