That’s why Strike Debt, an organization that emerged out of Occupy Wall Street to protect debtors’ rights, announced today it has purchased—and abolished—more than $4 million in student debt. They did this by purchasing private student loans from secondary markets for pennies on the dollar—just the way collection agencies do. But unlike hospital bills, federal student loans are guaranteed by the government and are mostly unavailable for purchase on secondary markets. “We started with medical debt because there is a clear moral argument,” said Laura Hanna, a Strike Debt organizer. If won, the CFPB’s case will secure more than $500 million, which will be used to cancel existing private student loans.