According to the New York Times, almost $5 billion worth of private student loans may be wiped away.
The National Collegiate Student Loans Trusts holds 800,000 student loans, through more than a dozen different trusts which total $12 billion in private loans.
Those student loans were originally issued by banks and then sold to investors including National Collegiate Student Loans Trust. During the sale, some paperwork went missing.
Per The Times, given that it’s unclear who owns the loans judges may throw them out.
A final ruling hasn’t been made, however, this good news sounds like a blessing from the creator.