This report follows the expansion of the federal student loan program throughout the years, from its origins in helping middle-income students afford a college education to an eventual rise in student loan borrowing. This 15-minute film chronicles the rise in loan volume, the impact of budgetary and accountability factors on the loan program, and the development of repayment options that provide tools for students to manage loan debt. To complement the film, the Institute for Higher Education Policy (IHEP) has developed a viewing guide that provides a historical look at federal loans.