Promising News for Student Loan Borrowers

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

(Image credit: This content is subject to copyright.)

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.

Subscribe to Kiplinger’s Personal Finance

Be a smarter, better informed investor.

Save up to 74%

Sign up for Kiplinger’s Free E-Newsletters

Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.

Profit and prosper with the best of expert advice - straight to your e-mail.

Sign up

To continue reading this article
please register for free

This is different from signing in to your print subscription

Why am I seeing this? Find out more here

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.