According to an Associated Press analysis, more than 4.2 million people across the country defaulted on student loans between April 2025 and March 2026. The total number of borrowers in default has reached a record 9.5 million. The surge includes many who went off track in 2024, when loan payments started coming due again after a pandemic-era freeze. Hundreds of thousands more are months behind on payments, and another surge in defaults could be on the way. Borrowers enter default after missing payments for nine months. The consequences can upend people’s lives. It hurts credit ratings and can lead to the debt being sent to collections.

Fabric and crafts retailer Joann Inc., which has been a destination for generations of quilters, knitters and other lovers of crafts for more than 80 years. 

Many of Jones’ personal assets, including real estate as well as guns and other personal belongings, also are being sold as part of the bankruptcy.