In the US perhaps, but it happened in Western Europe too, even where there weren't student loans. Simplistic explanation: the right wing parties were in favor of "austerity" measures, i.e. budget cuts, and the left-wing ones of getting as many people through college as possible. Unfortunately, both got what they wished for.

On this particular issue, i think all parties that reach power want the same thing: more educated people, cheaper (because let's be honest, a "left-wing" party in Europe that conquer power in Europe is at most a "third way"-type party, sometime with a green tint), and are all equally at fault for the situation.

The meaningfull difference between right-wing and left-wing parties is how the University should be organized, with right-wing party pushing for centralized, more powerful unis that can reach international "power rankings", and left-wing parties usually push for a decentralization (that's how you get university branches in small towns usually). Also most right-wing/third way parties seems to want the admin staff to have power over the education staff, that there's that shift too (the exact same stuff is happening in hospitals).