More people than ever are defaulting on student loans — and it could put the US economy at risk

Approximately 4.6 million Americans have defaulted on federal student loans, according to The Wall Street Journal.

This figure includes an increase of 274,000 people over the last three months. At the end of the third quarter of the fiscal year, these nearly 5 million defaulters represent 22% of all Americans who were required to pay federal student loans.