University of San Diego professor Dan Roccato slammed the Biden administration Thursday for the student loan handout plan, saying Americans don't need the government to "rescue" them. Roccato joined "Fox & Friends" to discuss the handouts, warning consumers need to further analyze the "investment" portion of attending college instead of "waiting for a government bailout."

STRATEGISTS WARN OF MIDTERM RAMIFICATIONS AFTER BIDEN ANNOUNCES $300 BILLION STUDENT LOAN HANDOUT

DAN ROCCATO: Americans are the best consumers on the planet. We spend days looking at the ingredients in our Mini-Wheats. We don't spend enough time, as you said, focused on return on investment when it comes to what is arguably one of the largest investments we'll ever make, college. College is a great way for us as a society to advance. There's no question the value of higher education is undisputed. But we as shoppers, we as consumers, we as families need to do a better job to understand that value and figure out ways to pay for it beyond just waiting for a government bailout. Smart families do this all the time around the kitchen table. We don't need the federal government to come in and rescue us. What we need is a reform of the system. We need fixing the system, not necessarily forgiveness.

WATCH THE FULL INTERVIEW FROM "FOX & FRIENDS" BELOW:

Personal finance expert rips Biden's student loan handouts: We need reform, not 'forgiveness'

The Biden administration is offering up to $20,000 in student loan handouts