Student Loan Defaults Surge to Record High | Orlando News

Student loan defaults are exploding nationwide, with 9.5 million borrowers—20% of all federal loan holders—now over nine months behind. That’s a shocking jump of 4.2 million since the pandemic pause ended, pushing default rates to record highs in 29 states. With $1.7 trillion in student debt and $233 billion already in default, rising costs and crushing payments are hitting millions hard. Defaults carry serious consequences: wrecked credit, wage garnishment, even Social Security seizures. For-profit college grads are hit hardest, falling behind at more than twice the rate of public and nonprofit students. And looming changes like the SAVE plan’s elimination could push even more into default, making monthly payments unaffordable for millions. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/d7221a02b73fdbad