Peter Schiff

He didn't even speak English.

He came here at about 12 or 13.

No welfare, no food stamps, no government housing, just nothing.

Just show up and get a job.

Where did they live?

In Haven, in Connecticut.

He worked on building the Yale Bowl.

It's like his first thing he did.

But anyway, so my father...

didn't have any money for college.

So he got a job in the summer and that paid for all his college.

He didn't graduate with any debt.

He worked his way through college like a lot of his friends.

That was common to do back then.

There was no government loans.

Nobody could get a loan to go to college.

But because nobody can get a loan to go to college, the universities had to keep the cost down or they wouldn't have any customers.

So there was a lot of free market activity

pressure to keep tuition down but what happened during the 1960s is the 18 year olds got to vote right and once 18 year olds could vote politicians figured well how can we get these kids to vote for us oh let's let's promise that they don't have to work their way through college anymore you could just bum around europe all summer go to woodstock and uh

We'll arrange loans for you.