Federal data through end of 2025 point to a worsening repayment landscape: roughly a million federal borrowers defaulted late last year and nearly 10% of outstanding balances are more than 90 days delinquent. The New York Fed’s Household Debt and Credit Report highlights growing numbers of borrowers sliding toward default, a development that will pressure servicers, financial aid offices and policymakers as repayment systems restart after pandemic relief.