Millions of People May Get Student Debt Canceled After Company Moves Loans

Millions of Americans could potentially get their student debt canceled after Massachusetts Senator Elizabeth Warren called on Navient to cancel "decades-old predatory private student loans" under a Federal Trade Commission (FTC) protection law. Navient said this year it would move its private and commercial loans in the Federal Family Education loan program to MOHELA, a major federal student loan servicer. That means 2.7 million borrowers will see their loans move to a new servicer, and some Democratic members of Congress are hoping that a significant chunk of those get wiped out.