More Than 9.3 Million Federal Student Loan Recipients Were in Default by June 30
Photo: TokenPost
Three people familiar with administration discussions said the U.S. Department of the Treasury is preparing to hire private debt collectors as soon as November, while five expect a broader return to federal student loan collections in 2027. Treasury has not publicly announced a plan to hire private debt collectors. The Education Department’s Jan. 16 pause on involuntary collections set no restart date. As of June 30, more than 9.3 million recipients were in default, with $234 billion in outstanding federal student loans. Defaults represented roughly 14% of the $1.64 trillion federally managed portfolio.
Source: TokenPost
