Lawyers say that since the loans generally passed through many hands before reaching National Collegiate, the paperwork involved is so shoddy that it could affect most of the $5 billion of its debt that is in default.
This is an important story, particularly if you are one of the students who has one of these loans. The College Board estimates that the average cost of attending a for-profit institution is $16,000 a year, roughly 4.5 times more than the cost of the average two-year college, and 1.7 more than the cost of the average four-year public college for in-state students. The issue of who owns the debt on $5 billion worth of student loans is at the center of a legal battle that is resulting tens of thousands of people having their debt wiped away.
The loans in question were originally granted by banks, then later bundled and sold to National Collegiate.
National Collegiate's troubled loans did not start out with the organization. For the economists who have always been anxious about the US's impending student-loan crisis, it's even worse.
From the sounds of it, there are thousands of dutiful Americans in debt who are paying their monthly loan payments to this company that may not have to do so because of this massive issue. There are additional considerations.
Judges throughout the country have already tossed dozens of collection lawsuits filed against borrowers because of missing documents.
Has National Collegiate sued me for nonpayment?The Times also notes that for the cases National Collegiate has been able to win, the mitigating factor is borrowers not even knowing the cases have gone to court and/or not showing up to defend themselves.
"It's fraud to try to collect on loans that you don't own", Uderitz told the Times.
Jaguar held a presentation of the compact crossover E-PACE, during which the vehicle performed a record-breaking long jump. Most E-Paces will come with AWD featuring Active Driveline Tech that distributes power individually across four wheels.
Crews also were using an air attack against another blaze about 50 miles north that exploded in size to 37.5 square miles. One of the fires grew to 12 square miles, traversing a mountain range and heading south toward coastal Goleta.
The Tesla Model 3 is unlikely to experience delays in deliveries that were due to production issues with the battery packs. Tamberrino said he is concerned with the plateauing nature of Tesla's combined Model S and Model X deliveries.
We've entered the fourth season of the annual South Point-lined Play of the Day competition, effective July 1. According to CBS Sports , one of Ball's faults in his first couple of games was that he was too unselfish.
If left untreated, gonorrhoea can lead to complications such as pelvic inflammatory disease, ectopic pregnancy and infertility . In the absence of a vaccine, the government requested help from the World Health Organization to "tailor-make" one.
The training location will serve the airline attendants who are based out of the Orlando , Philadelphia and Chicago airports. Last year, Frontier carried 35,091 travelers to and from the Broward County airport.
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Zion - a downstate village flawless for his message that the Democrats' school funding plan gives too much money to Chicago. Patterson said it was necessary "to allow cooler heads to prevail" after Rauner announced his opposition.
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U.S. police kill Australian woman in unexplained shooting
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If you use Samsung Pay, you can check-out with PayPal now
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AP Chief Minister casts vote in presidential election
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Tour de France wrap after stage 12
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F1 bosses aim dig at Lewis Hamilton over London snub
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IPhone 8 could make you wait to unlock two key upgrades
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Rand Paul: Senate GOP health care bill still at impasse
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Microsoft to lay of 'up to 3000 staff'
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