This is why the most vulnerable student loan borrowers struggle to get back on track

The bulk of federal student loan borrowers trying to get back on track after defaulting on their debts are struggling, despite the wide availability of government programs available to them to manage their debt.

More than 90% of borrowers who defaulted on their loans weren’t enrolled in an income-driven repayment program — a suite of payment plans offered by the government that allows borrowers to pay back their loans according to their income — nine months after curing their default, according to a report issued by the Consumer Financial Protection Bureau Tuesday. That’s a sign the student loan industry isn’t doing enough to protect the nation’s most vulnerable borrowers, despite lucrative government contracts that pay them to do just that, according to the consumer watchdog.

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