FTC sends checks to people who paid for student loan debt relief
The Federal Trade Commission is mailing checks totaling more than $1 million to people who lost money to a student loan debt relief scam.
According to the FTC's lawsuit, American Student Loan Consolidators, United Processing Center, and related defendants falsely promised to forgive student loans, lower monthly payments, and reduce interest rates. The FTC says that the defendants pretended to be affiliated with the U.S. Department of Education or with loan servicers to trick people into paying hundreds of dollars in illegal upfront fees for help with their student loans.
The FTC is mailing 41,048 checks—ranging from $10.00 to $27.03—to victims of the scam.
If you get a check, please cash it within 90 days.
If you have questions about the refund program, please call 1-877-251-1450.