My “Restore America” budget plan would eliminate five federal departments, including the Department of Education. But the aspect of that department that deals with student loans isn’t eliminated — it’s simply handled elsewhere in the budget. Yet the many headlines that came out after my interview Sunday on Meet the Press exclaimed that I wanted to “end” or “phase out” all student loans. In the long term — just like Social Security for people under the age of 25 — this is technically true. But to portray my budget plan as immediately getting rid of student loans is simply dishonest…

Like housing and medicine, education costs went through the roof when government became involved. In the last three decades, the overall inflation rate has increased more than 100%, which means we basically pay double now for everything we buy. This price inflation is an inevitable consequence of printing money out of thin air and devaluing our dollar. But compare this inflation to the rise in the cost of college tuition, which has increased almost 500% in the same amount of time.

This is what happens when we print money out of thin air and couple it with government intervention in education.