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Federal Student Aid reported that more than 9.3 million recipients were in default on federally managed student loans as of June 2026. Separately, some borrowers enrolled in the ended SAVE plan have been told to choose another repayment plan within 90 days of the date on their own servicer notice. The default count is a nationwide portfolio measure; the plan-selection deadline is specific to each affected account.
How many student loan recipients are in default?
Federal Student Aid (FSA) reported more than 9.3 million cumulative recipients in default, holding about $234 billion in loans, in its update published September 22, 2026. Those loans represented approximately 14% of the $1.64 trillion federally managed portfolio as of June 2026. FSA said the recipient count rose by about 400,000 from the previous quarter. The figures describe recipients and balances across the portfolio, not a count of individual loans. FSA’s September 2026 update gives the current snapshot; its June update put the March 2026 count at around nine million recipients with about $220 billion in defaulted loans. The earlier report is a quarter-to-quarter comparison, not the latest figure.
Does delinquency mean a loan is in default?
No. Delinquency means a payment is overdue; default is a separate status. In its June 2026 reports, FSA counted about 3.5 million recipients more than 30 days delinquent among accounts in active repayment, including about 1.5 million in late-stage delinquency that FSA considered at risk of default over the next six months. FSA also said more than 80% of recipients in active repayment were current, which it defines as on time or less than 31 days delinquent. These active-repayment measures are distinct from the cumulative default count. FSA’s portfolio update reports the figures and definitions.
How long do SAVE borrowers have to choose a new repayment plan?
There is no single national deadline date for every affected borrower. MOHELA says its notices to borrowers in the ended SAVE plan went out between July and September 2026 and gave recipients 90 days from the date of their individual notice to choose a new plan. Check the date on your own notice and your account for the deadline and instructions. MOHELA frames the issue in its SAVE Plan FAQ as: “What comes next, and what is the deadline for choosing a new repayment plan?” That notice window applies to the affected MOHELA accounts described by the servicer; borrowers should follow the communication from their own servicer.
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What happens if I miss the deadline to leave SAVE?
According to MOHELA, a borrower who does not select a plan will receive a final reminder and then be automatically placed in the Standard or Tiered Standard plan, depending on loan disbursement dates. MOHELA also says pending applicants may be returned to the plan they had before applying. These are MOHELA’s stated procedures for the accounts covered by its FAQ, not a guarantee about every servicer or borrower. Read the notice and follow the current instructions on your account rather than assuming that missing the selection deadline immediately puts a loan in default.
What repayment options should SAVE borrowers compare?
The Department of Education said in March 2026 that SAVE enrollees should exit the plan and enter a legal repayment plan. It said the new Repayment Assistance Plan (RAP) and Tiered Standard plan would be available starting July 1, 2026. Eligibility and available choices depend on loan type and account circumstances, so compare options using current information in your StudentAid.gov account and from your servicer.
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| Plan | What the Department described | What to verify |
|---|---|---|
| RAP | Payments based on income and dependents. | Whether your loans and circumstances qualify, and what your current payment would be. |
| Tiered Standard | Fixed repayment terms of 10, 15, 20, or 25 years, based on total outstanding balance. | Which term and payment apply to your account and whether the plan is available to you. |
The descriptions above reflect the Department’s March 27, 2026 announcement; use its announcement and current account tools for details that may have changed.
What if your loan is already in default?
A defaulted loan is not simply a SAVE borrower who has not yet chosen another plan. FSA says defaulted loans are not eligible for income-driven repayment until the borrower resolves the default. It identifies loan rehabilitation and qualifying consolidation as routes a borrower may explore; eligibility and the steps depend on the loan and the borrower’s circumstances. Review FSA’s income-driven repayment FAQs and contact your servicer for account-specific guidance before choosing a path.
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How many borrowers are enrolled in income-driven repayment?
FSA counted approximately 13 million Direct Loan and Education Department-serviced FFEL borrowers enrolled in income-driven repayment as of June 2026. That total included people in repayment, deferment, or forbearance statuses, including some SAVE borrowers in nonpayment status; it does not mean all 13 million were making payments. The figure is reported in FSA’s September 2026 portfolio update.
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