Statues of historic figures like Ronald Reagan, Margaret Thatcher and Ayn Rand were defaced at a California college campus last week.

The statues were found Wednesday at Chapman University in Orange, California, covered in caution tape and signs accusing them of racism and homophobia.

"Ronald Reagan is under student review due to Racism, Classism, and Homophobia," read the poster underneath the bust of the 40th president, according to Campus Reform.

School officials, however, have no plans to punish the vandals, citing free speech rights.

"All Chapman University students and faculty are encouraged to speak their minds and express their personal opinions, both privately and in public forums, on any topics they wish," a university spokesperson said.

Watch more in the "Fox and Friends Weekend" clip above.

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