Oftentimes, chopped up and edited videos are misquoted and out of context. However, having followed Romney’s speeches, proposals, and rebuttals quite extensively, I can tell you that the video below really does an excellent job summing up Romney’s position on student loans.
For someone who has never had to get a FAFSA pin and take out tens of thousands of dollars in debt to attend college, it’s nearly impossible to fathom. It’s definitely difficult relate to other Americans who have. So when Romney tells struggling students to “shop around” and that he supports a temporary extension (which would end once he’s elected President), it’s not just another one of his gaffes, it’s downright offensive. And not to bring my interrogation training into the matter, but his facial demeanor when talking about extending the student loan interest rates reminds me of how he talks to people that he clearly thinks he’s above.
If you’re a student and you’ve taken out student loans, you’ve entrusted your future in this society to the government, and Uncle Sam is investing in your success and education. In turn, though, you are required to pay a modest interest rate on the money paid to you, which is quite reasonable; inflation changes the value of money over time and even in a perfect market you’ll end up receiving less than what you originally loaned out if you charge zero interest (like the banks do). But anyone running for President needs to realize that student loans are a part of American life because of the profiteering nature of our educational, and right now the government is the only thing that’s on the side of millions of students.
What will happen when student loan interest rates go up? Will schools have more stringent financial criteria for acceptance? Are we going to have to have a minimum income, or level of liquid capital? And how will people afford interest rates that are the same as a cash loan when they’re also trying to get established in a career, have a family, and even further their education?
It’s bad enough our country is seemingly unconcerned with the future of our college students, even though they’ll be the ones running this country when the current legislature dies off – but for Romney to run for President and support Paul Ryan’s anti-education budget just emphasizes how little he really cares about the people of this country.