U.S.

Donald Trump Says ‘I Love Other People’s Money’ While Talking Student Loan Debt

As President Donald Trump addressed a crowd about guaranteeing free speech for students Thursday, he told the group how much he loved loans, and how he loved using other people’s money.

Mediaite reported Trump was speaking at a “free speech” event, where afterward he signed an executive order to protect freedom of speech on college campuses. The bulk of the crowd was students who say their conservatives views have been squelched on their respective campuses.

However, during his speech, the president redirected his message to talk about the burden that student loans place on Americans who go to college and beyond, and how they spend a good chunk of their lives paying back loans plus interest.

“It’s outrageous what’s happening,” Trump said. “You’re not given that fair start. You’re too far down. It’s not right, and we’re gonna work very, very hard to get it fixed.”

The president then stopped to talk about himself, and his fondness of taking out loans or, as he put it, money that belongs to someone else.

According to the report from Mediaite, there’s roughly $1.5 trillion in outstanding debt from more than 44 million people.

“We’re gonna talk about that very soon. We’re gonna work on that very soon,” Trump said, drawing a few chuckles in the East Room at the White House. “I’ve always been very good with loans. I love loans. I love other people’s money. We’re gonna work on it.”

Astronomical student loan debt has become a key talking point by the growing field of Democratic presidential candidates who hope to challenge Trump’s reelection bid in 2020.

Democratic Sen. Cory Booker earlier this month brought back the Debt-Free College Act, in which the federal government would match state governments in education appropriations.

"Higher education is one of the surest paths to economic security and prosperity for Americans, but the astronomical price tag means that ladder of opportunity remains elusive for many students," said Booker, who introduced the legislation along with Hawaii Sen. Brian Schatz. "Millions of students across the country are graduating with an unprecedented amount of student debt, and low-income students are hurt the most. By providing matching federal funds to states, our bill incentivizes states to help students pay for the full cost of a college degree — including the cost of living — without taking on debt."

Sen. Elizabeth Warren said she would declare a “national emergency” to address student loan debt and other issues if she were elected, according to the Washington Examiner.

“Oh, let’s do a list,” Warren said on the Late Late Show after the president declared a national emergency to fund a southern border wall. “Climate change, gun violence, student loan debt, right off the top. That’s what we ought to be working on.”

Presidential candidate Beto O’Rourke, who previously served in the House of Representatives, said during a campaign stop in New Hampshire on Wednesday that students shouldn’t be saddled with overwhelming debt for the education. He said the government should be “refinancing outstanding student loan debt, forgiving it if you do public service, and not digging a hole deeper going forward,” according to fosters.com.

“It’s not cheap but like any investment, when you look at the returns, it will produce the dividends, it will pay back over a lifetime,” O’Rourke said.

MarketWatch.com has tracked other statements from 2020 Democratic hopefuls regarding student loan debt.

Sen. Bernie Sanders said: “It is totally counterproductive for our future that millions of Americans are carrying outrageous levels of student debt while many others cannot afford the high cost of higher education. That is why we need to make public colleges and universities tuition-free and lower student debt.”

Sen. Kamala Harris said she would first attack the for-profit universities.

“We need to get rid of the for-profit colleges that are preying on students like you,” she said at a town hall event.

Sen. Kirsten Gillibrand said student loan debt doesn’t just hold an American down, it holds the American economy down as well. She claimed to work and bring down interest rates for those who refinance their student loans.

“Student debt is at a crisis level in this country, and it holds our whole economy down,” Gillibrand said via social media.

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