For federal student loans, default requires non-payment for a period of 270 days.
For private student loans, default generally occurs after 120 days of non-payment.
[1] In 2021, outstanding student loan debt has reached a record more than $1.8 trillion.
Borrowers typically owe $9,625, which is $8,500 less than the median loan balance of a non-defaulter.
[3] There are a number of paths to resolving student debt default, including: