Thanks to incomplete paperwork, five billion dollars of student loan debt may be technically erased.
It sounds awfully similar to a major plot point from tech psy-fi show “Mr. Robot,” but for tens of thousands of Americans who have student loan debt, it may soon be a reality.
The National Collegiate Student Loan Trusts is finding that the courts are siding against them in dozens of cases in which they are trying to collect payments from delinquent customers. Instead, these customers are discovering that the company cannot hold them accountable at all because of incomplete, even fraudulent paperwork.