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Overhead costs are far too high, state support is dropping, and college tuition is far too expensive. Colleges are pricing themselves out of existence.

If there were no government-guaranteed student loans, college tuition would be much lower.

Before I was governor, tuition was skyrocketing, and we stopped that. We capped and then we froze college tuition.

When it comes to college education, American families are paying more and getting less.

Traditionally, the way deficits have been cut is you hold expenditures more or less constant in real dollars and then let growth come in to fill it up.

On the other hand, it is not fair to say that changes in federal policy have caused our tuition to rise faster. Every economic argument imaginable would indicate that we should raise tuition at a faster rate than we do.

We are in the middle of an education recession.

Education is largely run at the state level.

The higher amount you put into higher education, at the federal level particularly, the more the price of higher education rises. It's the dog that never catches its tail. You increase student loans, you increase grants, you increase Pell grants, Stafford loans, and what happens? They raise the price.

In a very weak economy, when you say 'cut government spending,' what you mean is you're laying off school teachers and you're de-funding various programs that put money into the economy. This means you have more unemployed people that then draw unemployment benefits and don't pay taxes.