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This paper argues that student loan history is deeply connected to current political and economic theories. It challenges the belief that these factors are independent and links the financial impact of historical initiatives like the GI Bill and the New Deal of higher education to today's focus on individual responsibility and political trends towards democratic socialist ideals, such as student loan forgiveness. It aims to contextualize the current state of higher education borrowers and connect landmark bills to data on tuition costs compared to the median income of the time, representing the financial burden on students. This paper uses narrative inquiry methods to analyze government acts, policies, and economic theories as raw sources.