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FTC sends checks to people who paid for student loan debt relief

The FTC is mailing a second round of checks 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 first round of checks mailed in July 2020. Because there is still money in the fund, the FTC is mailing an additional 20,743 checks totaling more than $462,000.

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.