Wells Fargo

Student loans coming due -- here's what to do

Student loans now have the potential to cost the federal government an estimated $100 billion as more borrowers opt for lower income-based payments and eventual loan forgiveness. That's the conclusion of a new report by the Government Accountability Office (GAO).

With more than $1 trillion in student loans outstanding (93 percent of recent loans coming from the federal government), an entire generation has graduated into debt that may not be easy to repay. And if you graduated last spring, now is the time you must start the repayment process.

Federal student loans carry high rates and cannot be defaulted on, even in bankruptcy. But federal student loans do offer some payback...