I think at a minimum any student taking out a federal or private student loan to pay for their college education should be required to take an 18-hour seminar, including a final test, on how interest is calculated, and then examine their own loan as the final test.
They’ll have no excuse for pretending ignorance at how they don’t see a reduction in their loan principle for the first few years.
very few will have the prerequisite skills - order of operations, exponents, operations with fractions, to name a few...