An overwhelming majority of students must deal with student loans to pay for their education. Student loan debt has skyrocketed, so much so that student loans are now the second largest source of debt in the nation behind only mortgages, according to CNBC.

President Barack Obama has recently taken action to make higher education more affordable across the nation. One of the steps Obama took included a Student Aid Bill of Rights which includes four rights for students, which were outlined in a White House press release.

In the press release, the White House outlined its planned actions to promote affordable loan payments.

One of these actions included creating an efficient responsive feedback system. The Administration is putting much emphasis on improving the customer service aspect of the federal student loan process. 

Secretary of Education Arne Duncan will create a website by July 1, 2016 which will give students and borrowers a simple way to file complaints and provide feedback to one another about higher education and federal student loans. These actions will allow more student loan borrowers to get fair treatment, the press release said.

The current plan for the White House also includes helping borrowers better afford their monthly payments. 

The Administration is seeking fair treatment for struggling and distressed borrowers by raising the standards on debt collectors. This will lead to collectors charging reasonable fees and help return borrowers to good standing, according to the press release.

There is a ray of light for MSU students, however. Despite rising tuition costs at MSU and nationwide, MSU sees lots of its students leave school without student loan debt.

According to MSU's budget development, 46 percent of students leave the university with zero student loan debt—well below the national average of 71 percent. 

MSU President Lou Anna K. Simon spoke with The State News regarding this achievement.

"Well, when we raise tuition we've increased institutional financial aid ... probably about 150 percent more than tuition increased," Simon said.

In fact, over the last five years, MSU financial aid funding has increased from nearly $70 million to just more than $115 million—a 65 percent increase.