Close Video

Current Events

Romney supports cuts to financial help for students in Ryan budget

Mitt Romney may be a hero to profit-hungry CEO's, but he is no friend to college students trying to pay for an education. On the stump on Tuesday, Romney told students, "You're on your own," when it comes to financial help with student loans.

Romney supports the Paul Ryan budget plan, which would double the interest rates on student loan and cut Pell Grants. It also ends Medicare as a guaranteed government program and turns it into a coupon program.

“I’m very supportive of the Ryan budget plan. It’s a bold and exciting effort on his part and on the part of the Republicans and it’s very much consistent with what I put out earlier," Romney said.

In remarks made earlier in the 2012 presidential campaign, Romney said he considered government help to students "a free lunch," which he did not think was worthwhile spending in a conservative, budget-cutting environment.

Romney considers Pell Grants part of entitlements for the poor and said that he would "examine," those programs. His position so far, includes completely cutting help for college students from the federal budget and handing it back to the states to decide if they wanted to continue the programs.

By contrast, President Obama took the Bully Pulpit on Tuesday following Romney's remarks and told a University of Iowa crowd that he fully supported low-cost student loans.

Obama vowed to work hard to keep interest rates on student loans from doubling, as the Republicans have proposed.