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5 Million Americans Face Student Loan Default Crisis

4/29/2025

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Summary

Story summary

Nearly 5 million Americans have been in student loan limbo for nearly a year. As the U.S. Department of Education gears up to restart collections on defaulted loans on May 5, Nevada faces a staggering 12% default rate, totaling $12.4 billion owed. Borrowers are urged to act swiftly and craft repayment plans to dodge dire consequences.

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Story summary

Nearly 5 million Americans have been in student loan limbo for nearly a year. As the U.S. Department of Education gears up to restart collections on defaulted loans on May 5, Nevada faces a staggering 12% default rate, totaling $12.4 billion owed. Borrowers are urged to act swiftly and craft repayment plans to dodge dire consequences.