25% student loan borrowers 90 days behind, 13.7% in default

International Financial Law Prof Blog

Still, the government's default measure vastly underestimates the problem. The government considers people in default if they have made no payments in 360 days. A broader measure by the New York Federal Reserve—which accounts for all Americans with student loans—shows that roughly one in four borrowers are at least 90 days behind on a payment.