Reagan: loan cuts won't squeeze students out

President Reagan said his cuts in federal grants and guaranteed loans for college students would not force students to leave school.

''On many campuses, students are being told that they may not be able to return to school next year,'' Mr. Reagan said in a radio broadcast to the United States.

''A lot of people simply have been misled,'' he said, stressing the administration had only cut administrative costs and had not cut actual loan funds. Mr. Reagan said the sum set aside for student loans will decrease from $2 .7 billion this year to $2.4 billion in 1983. But ''not one dime'' of the amount designated for cuts would have been spent on loans themselves, he said.

In the speech, the second of 10 five-minute weekly broadcasts he will make, the President also pledged the United States would do all it could to help resolve the crisis over Argentina's seizure of the British-ruled Falkland Islands.