Mitt Romney has some simple advice for students who want to start their own business: Just borrow money from your parents. The presumptive Republican presidential nominee made the suggestion Friday during a pit stop at Otterbein University in Ohio.
Romney pointed to sandwich chain Jimmy John’s, in which owner Jimmy John Liautaud borrowed $20,000 from his father (in return for 48% of the business) to start the shop.
"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," said Romney, whose wealth is estimated upwards of $250 million.
He has been battling the perception he's out of touch with regular Americans.
"This is kind of an American experience," Romney said of Jimmy John's.
The former Massachusetts governor acknowledged the nation's economy was recovering but blasted President Obama for presiding over "the most anemic and tepid" comeback since the Great Depression.
Both Romney have Obama have been visiting college campuses in recent weeks in attempt to woo young voters.
The president has been pushing legislation that would keep interest rates from doubling on student loans. The GOP, meanwhile, has accused Obama of using students as an attempt to distract from the weak job prospects they will face upon graduation.
A new poll by Harvard University's Institute of Politics shows Obama leads Romney 43% to 26% among voters ages 18 to 29. However, a third of those polled were undecided.
