More than 41 million people have outstanding federal student loans, totaling more than $1.5 trillion. But not all borrowers have the same experience.
For a start, more than a third of borrowers have an outstanding balance of $10,000 or less.
Second, about 20% of borrowers are in default. When you get older, you can even lose part of your Social Security. More than 1 million loans go into default each year.
Finally, research shows that those hit hardest by student loan debt never finished college.
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