The amount owed by federal student loan borrowers has grown 17% since 2013
Even as the economy continues to improve, student loan borrowers are still struggling to cope with their debts, a new analysis indicates.
Roughly 1.1. million borrowers entered default on their Direct Loans, a type of federal student loan, last year, about the same as the previous year, according to an analysis of publicly available government student loan data by Rohit Chopra, a senior fellow at the Consumer Federal of America, a network of more than 250 nonprofit consumer groups. Overall, there were 4.2 million borrowers in default in 2016, up 17% from 3.6 million the year before, as some borrowers exited default while others remained in the red.
The analysis likely underestimates the number of federal student...