Photographer: Getty Images

This Is How Badly We're Managing Our Student Debt

Borrowers aren't making payments and are taking longer to repay their loans.

Government-backed student debt is big business: About one in six U.S. adults has a student loan owned or guaranteed by taxpayers, and the feds pay their contracted loan servicers and debt collectors close to $2 billion annually to counsel borrowers on their repayment options and collect monthly payments on nearly $1.3 trillion of federal student debt.

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