Student loans in the United States have become the second-largest category of consumer debt, bested only by mortgage debt. Federal statistics show student debt topped

.3 trillion at the end of 2016. More than 44 million people owe that money, and the default rate stands at 11.2%. New research from Laura Perna, a professor at Penn’s Graduate School of Education, and her co-authors, tackles some of the pressing issues around student loans. In their recent paper for the Penn Wharton Public Policy Initiative ( “An Updated Look at Student Loan Debt Repayment and Default,” ) Perna and her co-authors offer some ideas for students and government. She spoke with Knowledge at Wharton about her research and what can be done to start to get more students in the black.

An edited transcript of the conversation follows.

Knowledge at Wharton: Laura, please give us an overview of your study.

Laura Perna: This report is designed to help inform understanding of who is borrowing and what are the consequences of borrowing.…