Regarding the latter, we are just one of a number of Midwestern institutions, including Ohio State University, the University of Oklahoma and the University of Wisconsin-Madison, that have recently launched innovative financial advising, money management and peer-coaching practices to help students make wise borrowing decisions. Furthermore, bipartisan legislation in Congress would require colleges and universities that accept federal aid to send an annual “debt letter” to every student — a practice that we pioneered in 2012 — estimating their total loan debt and future monthly payments. Issuing that letter to each loan recipient is now the law in Indiana and required of all colleges.