The New Federal Student Loan Numbers Are In (And They're Ugly)

Betsy Mayotte, Founder and President of The Institute of Student Loan Advisors (TISLA), breaks down the latest federal student loan data and what it means for millions of borrowers. With defaults climbing to more than 9 million and nearly one in four recent graduates already falling behind, Betsy explains why student debt is no longer just a young person's concern, how borrowers of every age can avoid the steep costs of default, and what steps to take right now to protect yourself, from forbearance and income-driven repayment to loan rehabilitation.

What You'll Learn:
✓ Why student loan defaults have climbed to a historic high, with over 9 million borrowers now in default
✓ Why student debt isn't just a young person's problem, and why older borrowers are the most likely to default
✓ The real cost of defaulting, from wage garnishment to collection fees, and why a payment plan is almost always cheaper
✓ The exact steps to take if you're behind, including forbearance, income-driven repayment, and loan rehabilitation
✓ How federal loans compare to private loans, and why federal protections make them the safer choice
✓ How recent legislative changes under H.R.1 could impact repayment for parent borrowers

Chapters:
00:00 Welcome Betsy Mayotte, The Institute of Student Loan Advisors
00:39 The Top Line: Defaults Near a Historic High
01:20 $234 Billion and the "Perfect Storm" Behind It
03:27 Student Loans Aren't Just a Young Person's Issue
04:47 Why Older Borrowers Are Most Likely to Default
05:26 Righting the Ship: What to Do If You're Behind
07:03 How Default Damages Your Credit and Finances
07:26 Why Defaulting Costs You More Than a Payment Plan
08:47 Should You Fear Taking a Federal Student Loan?
09:23 Federal vs. Private Loans: The Safer Bet
10:59 Do Fed Rate Hikes Affect Student Loan Rates?
11:47 Betsy's Suggestion Box for Policymakers (H.R.1)
13:05 Closing Thoughts

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