I'm Nicole Lappin, the only financial expert you don't need a dictionary to understand.

It's time for some money rehab.

Here's your weekly round up of the biggest headlines on Wall Street and how they affect

your finances.

Student loan forgiveness is back on.

Well, no it's not, sorry.

But if that's what you thought because of the headlines, I can totally understand why.

The real story doesn't have anything to do with the recent student loan forgiveness

ruling from the Supreme Court, but who could tell from all the coverage or the political

spin?

So I'm going to give you the real scoop on why some 800,000 people will have $39 billion

of student loans forgiven.

When you borrow money from the federal government to pay for your education, the feds back the

loan.

But the paperwork is handled by private companies that service those loans.

These companies were supposed to manage the paperwork for the government.

They would accept payments for the loans, record the payments, and handle loan forgiveness.

But these companies didn't do any of that.

They had one job, processing loan payments, and they still failed.

They kept such poor records that sometimes borrowers would be transferred between loan

servicing companies and their entire payment history would be erased.

In other words, these companies had no idea how much people were paying on their loans.

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