Story perspectives

Student Loan Defaults Hit 9.16 M; New Repayment Plans Arrive

6/19/2026

Summary

Story summary

The U.S. Department of Education said student-loan defaults rose to 9.16 million in April, up from 7.7 million in December.
The defaults now affect about 20 % of the 43 million borrowers, with roughly 3 million 90-day delinquents.
Starting July 1, the Education Department will replace the SAVE plan with two new repayment options and will grant a 0.25-percentage-point autopay rate cut that totals a 1-point reduction over two years at an estimated $6 billion cost.

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Story summary

The U.S. Department of Education said student-loan defaults rose to 9.16 million in April, up from 7.7 million in December.
The defaults now affect about 20 % of the 43 million borrowers, with roughly 3 million 90-day delinquents.
Starting July 1, the Education Department will replace the SAVE plan with two new repayment options and will grant a 0.25-percentage-point autopay rate cut that totals a 1-point reduction over two years at an estimated $6 billion cost.