According to analysis from the Consumer Financial Protection Bureau:
Statistics analyzed by the federal Consumer Financial Protection Bureau show that more than six million borrowers are in default on their federal student loans, representing $89 billion of the more than $1 trillion in outstanding debt.
The default is even higher in older loans:
More than 50 million Americans had received loans through these programs as of June 2013, according to the analysis, and the majority of loans are in repayment. A large percentage, 28 percent, of Direct Loan borrowers are still in school, and an additional 7 percent of Direct Loan borrowers are still in a post-graduation "grace" period.
More than $569 billion in loans are outstanding under the Direct Loans program, according to the analysis. The average outstanding balance for loans in default under the Direct Loans program is $14,500.
The older FFEL program has an average outstanding balance for loans in default of $13,400, but almost one in five borrowers under that program is in default.
If you are considering taking out a student loan or need information on income-based repayment, check out this
list of questions and answers from the Consumer Financial Protection Bureau to make sure you get the right loan for the long term.