“Judges have already dismissed dozens of lawsuits against former students, essentially wiping out their debt, because documents proving who owns the loans are missing.” Imagine finding out you don’t have to pay a loan back because the note-holders misplaced some paperwork. Well, that’s essentially the situation when it comes to about $5 billion worth of student loans. From the NYT: As Paperwork Goes Missing, Private Student Loan Debts May Be Wiped Away.