About half of the outstanding $1 trillion in federal student loan debt in the U.S. isn’t being repaid. And 1 out of 8 borrowers are defaulting on their loans despite unprecedented federal attempts to help.
An analysis released Monday by the CFPB shows borrowers are struggling to repay their loans and are seemingly unaware of options that could them help avoid default or forbearance.
About $180 billion in debt of the outstanding $1 trillion is in default or forbearance. And an additional $315 billion isn’t being repaid because borrowers are still enrolled in school, just left school or have deferred payment on their loans.