$5B in Student Loan Debt Could Be Gone Thanks to Missing Paperwork

Graduating students arrive for Commencement Exercises at Boston College in Boston, Massachusetts May 20, 2013. (REUTERS/Brian Snyder)

OAN Newsroom
Some college graduates may not have to pay off their student loans thanks to a clerical error.
According to the New York Times, nearly 200,000 private student loans issued by the National Collegiate Student Loans Trust are missing critical paperwork.
That amounts to around $five billion in loans.
The lenders are now are part of a major lawsuit.
The loans were originally granted to students by banks, bundled and then sold to the trust.
This makes it unclear who exactly owns them.
If National Collegiate can’t prove official documentation in court a judge will be forced to throw them out.