New analysis shows almost 13 percent of federal student loan borrowers in default

Matt Zalaznick's picture

Statistics analyzed by the federal Consumer Financial Protection Bureau show that more than six million borrowers are in default on their federal student loans, representing $89 billion of the more than $1 trillion in outstanding debt.

The bureau, created in response to the 2008 financial crisis, is tasked with supervising financial companies, enforcing consumer protection laws and providing financial education to Americans.

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