Outstanding student debt grew rapidly in the years following the great recession, as greater numbers of students enrolled in college and borrowed more. Rising college prices surely contributed to that trend, too. Because the bulk of that debt is issued through the federal student loan program, policymakers often respond with proposals to cut the interest rate the government charges. Unfortunately, those proposals hardly change the college access equation—the benefits borrowers receive are trickled out one month at time over decades-long repayment terms after they’ve left school. That point is lost on many lawmakers and presidential candidates, even those who have otherwise put in the time and effort to develop a higher education platform, such as Hillary Clinton.
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