$ 5 billion student debts may be written off due to loss of papers

Фото: Depositphotos

Payment of student loans pursues college graduates for several years after they receive diplomas.

But due to the loss of documents, the debt on some student loans totaling 5 billions of dollars can be written off by the courts, reports Fox business.

These are private loans issued National Collegiate Student Loans Trustin respect of which extremely important legal documents have been lost.

Lost papers on 166 000 individual loans totaling 5 billions of dollars.

In respect of these loans is currently undergoing trial.

Initially, these loans were issued to students by banks, and then merged and sold National Collegiate Student Loans Trustit is therefore unclear who exactly owns individual loans, but since National Collegiate Student Loans Trust can not confirm their ownership of these loans, providing official documentation, the court will be forced to write off these debts.

The amount of total debt on student loans in the United States is about 1,4 trillion dollars.

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