Congress is reducing spending on student loans. (If you subscribe, the WSJ has a better article.) I'm opposed to student loans, but Congress is doing this backwards, making things worse instead of better.
The money savings come from raising interest rates on the loans. So young people will be burdened by even bigger debt repayments than they already are.
Congress should, instead, save money by lowering the amount of money that students can borrow. This would force colleges to cut costs and maybe discourage some students from unnecessarily attending college.
Unlike all other forms of debt, student loans cannot be discharged in bankruptcy. So student borrowers make a deal with the devil in which they can ruin their lives forever because they are never allowed a fresh start if they borrow beyond their ability to repay.