Repayment Status of Federal Education Loan Portfolio
In March 2018, 17% of borrowers—but 11% of outstanding dollars—were in default. The average balance on defaulted loans was $18,600, compared with $29,200 for all outstanding loans.
Figure 13B: Repayment Status of Federal Education Loan Portfolio, Second Quarter FY18
Notes & Sources
NOTES: Includes both loans made under the Federal Direct Loan Program and loans made under the Federal Family Education Loan Program (FFEL) and held by the U.S. Department of Education. Excludes the $200 billion in outstanding FFEL loans not held by the federal government. The second quarter of FY18 ended on March 31, 2018. Repayment: in active repayment status; In-School: borrower is still enrolled, never entered repayment; Deferment: payments postponed because of economic hardship, military service, or returning to school; Forbearance: payment temporarily suspended or reduced because of financial hardships; Grace: six-month period after borrower is no longer enrolled at least half time; Default: more than 360 days delinquent. “Other” category includes loans that are in non-defaulted bankruptcy and in a disability status.
SOURCE: U.S. Department of Education, Federal Student Aid Data Center, Federal Student Loan Portfolio.