Federal student loan payments will restart in October after more than a three-year break. But the government will never see most of the $1.8 trillion borrowers currently owe, with or without President Joe Biden's widespread forgiveness plan.
That's according to a new report from the Jain Family Institute, a nonpartisan research organization, that analyzed the credit reports of 1 million people ages 18 to 35 with student loan balances between 2009 and 2019. In the report titled The Student Debt Crisis Is a Crisis of Non-Repayment, the author, Marshall Steinbaum, a senior fellow in higher education at the organization, writes that because of a litany of factors, "much of outstanding federal student loan balances aren’t ever going to be repaid."
