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Student Loan Borrowing in the Eighties
In the seventies, almost anyone who was middle class or low income could get a pelgrant that would be enough to go to a public university or a community college, debt free. In 19 81, regan, and again, a bi partisan, a democratic and a majority in congress, really slashed helgrant funding. And so we went from having flat student loan borrowing about 20 billion dollars a year in the eighties to a quintupling of that,. The one twist with that is that since two thousand 12, new loan borrowing has actually gone down.