Student loan borrowing has hit an five-year low amid the ever-rising cost of higher education and growing outstanding balances all over the nation.

According to the Huffington Post, the U.S. Education Department received less than $100 billion in total loans this year for the first time in five years. Contributing is lower enrollment overall and less borrowing by students attending for-profit colleges.

The ED shut down Corinthian Colleges, a prominent for-profit system, a few months ago as the result of an investigation into falsified job-placement statistics and other dishonest practices. The ED also vowed to help eligible students recoup the money they borrowed to attend the closed campuses.

The HP pointed out that while the cost of attending college continues to rise, funding for colleges has not. Meanwhile, a recovering economy has made finding well-paying jobs for recent graduates more difficult, causing many to enter into repayment plans that drive up interest rates on their student loans.

Regardless, recent studies have proven the value of a college degree still outweighs that of a high school diploma or GED in terms of mid- and late-career salary. For this reason, President Barack Obama and multiple Democratic candidates for the 2016 election are making affordable college educations a priority.

Hillary Clinton recently unveiled a plan for free public college, but she also detailed an initiative to help student loan borrowers pay back what they owe. Studies have shown that student loan debt is holding many Americans back from making financial decisions that could help grow the economy, like buying a new car or a home.

Clinton proposed allowing borrowers with high-interest loans to be able to enter into repayment plans that limit monthly payments to 10 percent their income, the HP noted. Clinton also vowed to be tougher on lending companies accused of using unethical or illegal practices in collecting from borrowers.