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2.6 million student loan borrowers fell into default in early 2026: New York Fed

CNBC · May 12, 2026, 4:04 PM · Also reported by 2 other sources

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  • Millions of student loan borrowers have recently defaulted on their loans, according to new data from the Federal Reserve Bank of New York.
  • Roughly 1 million borrowers fell into default during the fourth quarter of 2025, and another 2.6 million borrowers did so in the first quarter of 2026, the New York Fed reported in a blog post on Tuesday.

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Millions of student loan borrowers have recently defaulted on their loans, according to new data from the Federal Reserve Bank of New York.

Roughly 1 million borrowers fell into default during the fourth quarter of 2025, and another 2.6 million borrowers did so in the first quarter of 2026, the New York Fed reported in a blog post on Tuesday.

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