Promising News for Student Loan Borrowers

A recent lawsuit against private student loan borrowers has been dismissed. Here's what you need to know.

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Judges recently dismissed dozens of lawsuits against private student loan borrowers because of shoddy record keeping by companies claiming to own the debt. That could be promising news for borrowers, particularly those with loans held by the National Collegiate Student Loan Trusts, one of the largest owners of private student loan debt and the organization at the center of recent court cases. But the chances that your loan will be wiped out are slim. So far, courts have looked only at cases in which National Collegiate sued borrowers. Until you learn otherwise, continue making payments.

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Kaitlin Pitsker
Associate Editor, Kiplinger's Personal Finance
Pitsker joined Kiplinger in the summer of 2012. Previously, she interned at the Post-Standard newspaper in Syracuse, N.Y., and with Chronogram magazine in Kingston, N.Y. She holds a BS in magazine journalism from Syracuse University's S.I. Newhouse School of Public Communications.