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Tens of thousands of people who took out private loans to pay for college but have not been able to keep up payments may get their debts wiped away because critical paperwork is missing.

Questions:
1. How much do the troubled loans total?
2. According to the article, what is this situation reminiscent of?
3. What is National Collegiate?
4. Who stands to win and who stands to lose in this situation?
5. What type of accounting should be undertaken in this situation?
6. Why is National Collegiate winning any of its suits?

Source:
Cowley, S. and J. Silver-Greenberg. (2017) As Paperwork Goes Missing, Private Student Loan Debts May Be Wiped Away. The New York Times, July 17 (Retrievable at https://www.nytimes.com/2017/07/17/business/dealbook/student-loan-debt-collection.html)

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