The Department of Education is hiding the true default rate by putting borrowers
into economic hardship deferments, forbearance programs, or long - term income - driven repayment plans.
Income - based repayment plans can help you find a payment amount that fits
into your monthly budget;
deferment and forbearance can see you through periods of
economic hardship, and the Department of Education has even set up a default rehabilitation program to help you recover from default without damaging your credit score.