Peter Schiff
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Appearances Over Time
Podcast Appearances
You can loan money.
You can borrow money and just pay it back later when you get your job.
And so they started all these government guaranteed loans.
And then what happened?
The colleges reacted to that by raising prices.
Hey, the kids have all this money.
Right.
Let's raise prices.
And so and then they kept increasing how much the kids could borrow and the colleges kept raising prices.
And then they said, oh, well, let's have fancy gymnasiums.
Let's have nicer dorms.
Nobody cared how much anything cost because all the loans were coming in.
And so the government got involved.
And now college cost a fortune.
Everybody has a degree.
So it doesn't even mean anything anymore.
And you and you and you graduate with a mortgage.
The government caused tuition prices to skyrocket.
The same thing with health care.
Well, the lenders did great because the government guaranteed all the loans.