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The State of Obama: Did He Blow Off the Student Loan Crisis?

Among the back stories are attempts by federal agencies to get their arms around the problem of loan defaults and the lack of options for refinancing — especially for private loans.

In a January 9 blog post, the Consumer Financial Protection Bureau's student loan ombudsman, Rohit Chopra, wrote, "Unfortunately, too many student loan borrowers are struggling. According to a report we published jointly with the Department of Education, there were more than 850,000 private student loans in default, with even more in delinquency."

"Borrowers need more options to avoid default," Chopra wrote, "which is in the best interest of borrowers, financial institutions and the economy more broadly."

These issues did not make the cut for the State of the Union address.

--Written by John Sandman for MainStreet

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