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For too long, the dream of pursuing a college degree has turned into a nightmare of federal student loan default for millions of students. Default disproportionately affects Black students and first-generation students, and most of those who experience default entered college from a low-income background.
This report from the Institute for College Access & Success examines how the federal student loan default system can plunge struggling borrowers deeper into poverty rather than helping them get back on their feet. The study includes recommendations for policymakers to better protect borrowers.