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News & Politics News & Politics

Romney’s Advice To Students: Borrow Money From Your Parents

Posted by on Apr. 27, 2012 at 5:25 PM
  • 21 Replies

Romney’s Advice To Students: Borrow Money From Your Parents

If you’re young and you want to start your own business, Mitt Romney’s has some advice from you: Borrow money from your parents. At a “lecture” for students at Otterbein University in Ohio today, Mitt Romney told students that, his friend, Jimmy John, started a business by borrowing $20,000 from his parents at a low interest rate. Romney suggested anyone in the audience could do the same:

This kind of devisiveness, this attack of success, is very different than what we’ve seen in our country’s history. We’ve always encouraged young people: Take a shot, go for it, take a risk, get the education, borrow money if you have to from your parents, start a business.

Watch it:

The advice fits right into the characterization that Romney is ‘out of touch’ with regular people. Most students don’t have parents with $20,000 in disposable capital sitting around to give to their kids to start a business.

At least it’s more than Romney’s surrogates had to offer young people on their youth policy conference call this week.

by on Apr. 27, 2012 at 5:25 PM
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Replies (1-10):
matreshka
by Gold Member on Apr. 27, 2012 at 5:30 PM

LOL, I'm sure many students would rather do this than take out loans but as we all know not all families can help out. So what, they shouldn't have the chance to attend school. In my state our community colllege system is great, with incentives to go to UMass after 2 years. I wish all states had good community colleges to help students get a good education at a cheaper rate.

JakeandEmmasMom
by Gold Member on Apr. 27, 2012 at 5:39 PM
5 moms liked this
These are the kinds of comments that make people bristle and say that he doesn't relate to average people. I bet he doesn't even understand why his comment would raise eyebrows. He's not a bad guy. But the fact that it doesn't even occur to him that the majority of Americans can't just borrow $20,000 from their parents is troubling.
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PamR
by Platinum Member on Apr. 27, 2012 at 7:05 PM

Well, there you go.  Because everyone's parents have money to loan them.  Problem solved!

4kidz916
by Gold Member on Apr. 27, 2012 at 7:46 PM
2 moms liked this

I'm trying to find an article that talks about the whole speech, not just the 22 seconds above.  I'm wondering if it's another blip blown out of proportion or taken out of context to make him look out of touch.  Both sides are infamous for these types of "articles".

_Kissy_
by on Apr. 27, 2012 at 8:01 PM
sucks when people only listen to a few seconds of someones speech and not the whole thing doesn't it..hmm.
I've seen it done for 3 yrs with Obama..but to suggest asking average parents for 20 grand when 07-08 wiped out 401ks, savings and investments will only put hardship on their parents and guilt for the children.
I am fortunate enough to have my kids college funds established and with the scholarships they will get, they will be set.
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TruthSeeker.
by CM Junkie on Apr. 27, 2012 at 8:15 PM
1 mom liked this

 I think his advice is pretty good. Some people have too much pride and won't as their parents for money.

Sisteract
by Socialist Hippie on Apr. 27, 2012 at 11:35 PM

OUT OF TOUCH-

Says the man who thought he had it hard because his daddy's money only covered his Harvard tuition, pasta and tuna for he and his family of 5-

paknari
by Silver Member on Apr. 27, 2012 at 11:42 PM
1 mom liked this
Yes because I'm sure that the majority of parents have $20,000 Lyon around just waiting for their prideful children to quit being so stubborn..


Quoting TruthSeeker.:

 I think his advice is pretty good. Some people have too much pride and won't as their parents for money.


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jlo1313
by Bronze Member on Apr. 28, 2012 at 10:30 AM
2 moms liked this

I listened to the speech and didn't take it as "you must go borrow money from your parents because we aren't lending it", I took it as "still go out and take a chance" because its damn hard to get a business loan.  

I guess we can misconstrue anything to make him out of touch and evil because his family has $20,000 to borrow.  Mine doesn't...when I wanted an SBA loan, I just kept going to banks until someone would finally give me a chance.

NancSBRN
by Bronze Member on Apr. 28, 2012 at 11:32 AM

And there is is. This show how much Romney know about the situation of REAL Americans. So the kids go into debt or the parents do. I am sure those parents that can afford to pay for their kids education DO as for Normal hard working Americans we get student  loans and we pay them back.

Most family do not have 20 or more thousand dollars to hand over for their childrens educations some of us paid our own way though college. My own family did not pay for mine, and we could help our son with rent for the first 2 years but in no way could we pay for tutions.

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