Barack Obama puts out this web ad with NBC style editing:
“Mitt Romney on how to pay for college and start a business…”
“Take a risk, get the education, borrow money if you have to from your parents'”
“Hope they can afford it.”
“Romney’s plans could cut college aid for nearly ten million students and eliminate the tax deduction for college tuition.”
“President Obama eliminated bank middlemen from college loans… and used the savings to double college grants.”
“Take a risk, get the education, borrow money if you have to from your parents.”
“Get real, Mitt.”
Here’s the whole speech quote via NewsBusters:
MITT ROMNEY: Even now I believe you’re watching the president who has trying to deflect and divert. From his record by trying to find ways to, if you will, attack fellow Americans. Between rich and poor and other dimensions. This kind of divisiveness, this attack of success, is very different than what we’ve seen in our country’s history. We’ve always encouraged young people take it, take a shot, go for it. Take a risk, get the education, borrow money if you have to from your parents. Start a business.
I was with a guy named Jimmy John. I’ve met Jimmy John. Jimmy John, hope I get the story entirely right, I think I will, he graduated from high school, and he didn’t want to go to college. And he said to his Dad can I borrow some money I want to start a business. His dad said, “I just don’t think you’ve got the discipline to start a business and make it work.” And he said, “I’ll loan you the money but if you can’t pay it back with interest by the end of the year I want you to go into the military and sign up.” And he said, “Okay I’ll do that.”
And I think he said he borrowed 20,000 dollars from his dad, was going to start a restaurant. Then he found out how expensive it is to buy all the restaurant equipment and 20,000 dollars wouldn’t cut it. The only thing that would work for 20,000 dollars was a sandwich shop. So he started making sandwiches. And as you chucklingly indicated a moment ago you know that his sandwiches are doing pretty well. He’s got shops all over the country and thousands of people working with him. This is kind of an American experience.
I’m boggled at how Democrats can push the idea that borrowing money from someone other than the government, or God forbid students actually shop around, is somehow a bad idea. You don’t go out and buy a car or house without shopping around – a lot. Why would you just settle for one quote on a loan for school which is quite frankly one of the biggest (if not the biggest) financial choice of your life? Perhaps I shouldn’t be so boggled since Obama has been pushing the idea of a nation of government dependent citizens with his Julia campaign.
Newsflash to students: go head and get that government loan… if you want to be owned by the government. Student loans are not dispatachable in bankruptcy, kiddies. Once you take that loan, they own you. It’s your choice where you go to school, what you study and how you finance it, just ask a random Occupier.
Instapundit: The Higher Education Bubble