The promise of free college (and its potential pitfalls).

The price of college is rising, making college feel out of reach for a rising share of Americans. Families can borrow to be sure, but with total student loan debt now above $1 trillion nationally, the situation seems unsustainable. Meanwhile, we face a long-term decline in our international ranking on college attainment and the disparities in college access by race and income—disparities that financial aid and loans are supposed to address—seem larger than ever. It is no surprise then that in the campaign for U.S. President in the 2016 election, nearly all candidates of both major political parties raised the issue of college affordability.