I think young people are supporting Ron Paul because they are sick of the student loan racket that turns them into lifelong debt slaves. If the average student only had $5,000 per year available to pay for college, then the schools would only be able to charge that much. But when the government loans students an additional $20,000 per year, then the college can (and will) raise its charges to $25,000. That's basic economics—law of supply and demand.
So, we've got kids taking on $80,000 in debt for something that should have only cost them $20,000 total. Plus, the government has passed a law that student debt cannot be discharged in bankruptcy, unlike other debts, so they are trapped even if they can't find a job. It's one thing for people to go into debt to buy things that are not necessities, but when we force our kids to take on lifelong debt just to be able to earn a decent living, we've really crossed the line.