General World News

The government can confiscate your paycheck, keep your tax return, or sue you over unpaid student loans

sad graduates. Students listen to U.S. President Barack Obama while he gives his remarks after receiving an honorary doctorate of laws during the 250th anniversary commencement ceremony at Rutgers University on May 15, 2016 in New Brunswick, New Jersey. Obama is the first sitting president to speak at the school's commencement.

Disappearing student loan debt is a dream for many borrowers.

But for tens of thousands of student borrowers, that dream could become a reality. Billions of dollars in student loans may be wiped out because the lender — The National Collegiate Student Loan Trusts — didn’t keep track of the paperwork.

For the rest of the 44 million student loan borrowers in the US, however, such relief is unlikely to come.

Student loan debt is notoriously hard to shake. Unlike other types of consumer debt, discharging college debt is nearly impossible, even in cases of bankruptcy. Meaning, the government will follow you read more >>>

Source:: BusinessInsider.Com