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Here’s why America’s $1.5 trillion student-loan crisis has spiralled out of control

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Will more information help borrowers navigate college costs and student loans?

With the growth in student loans continuing to soar, politicians and borrowers struggling with an issue that’s become both a financial and political problem.

Presidential candidates are proposing to cancel student debt and make public college free, state legislators are cracking down on student-loan companies and, recently, government agencies have offered another approach — teaching students and borrowers more about finances.

The Treasury Department recommended earlier this month that colleges should require students to take financial-literacy courses and representatives from the Department of Education told a group of financial-aid professionals this week that the agency is planning to add robust financial literacy tools to the app students can use to apply for financial aid and manage their student loans.

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