This national report seeks to counter what it portrays as an alarmist narrative that college debt is ruining most young people’s lives. It argues against the across-the-board loan forgiveness some presidential candidates advocate. In fact, the study says that 66 percent of millennials have no student debt at all. That’s because they haven’t gone to college or because they managed to get through without having to borrow. And of those who do have college debt, their repayment burdens usually are not out of line with their incomes. Typical four-year-degree graduates who borrow have $28,500 in debt and that can be paid back with monthly payments of less than $200, the study says. However, the author notes that the real ones in debt trouble are borrowers who dropped out of college before earning a degree and are defaulting with loan balances below $5,000. The high rate of default among this group suggests that they are unaware of, or have had trouble navigating, the safety nets available to help them, such as income-based repayment plans.