$12 Billion In Student Loans May Disappear After Paperwork Is Lost

There’s no financial issue more pressing than student loans. There’s $1.3 trillion in student loan debt out there, and it’s only heading upward. But a new legal case might make $12 billion of loans, and potentially even more, legally vanish for good, with the students in question off the financial hook.It sounds too good to be true, but it’s actually a real legal problem. One of the most aggressive student loan companies, a network of 15 trusts called the National Collegiate Student Loan Trusts, has, according to The New York Times, had real trouble proving in court that it actually owns the loans it’s suing people over:

Source: $12 Billion In Student Loans May Disappear After Paperwork Is Lost

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