FTC sends payments to people who paid for student loan debt relief
The FTC is sending a second round of checks to people who lost money to a student loan debt relief scheme.
According to the FTC, the defendants falsely told consumers that they would permanently lower or eliminate student loan debt for an upfront fee of $699 and a monthly fee of $39. In reality, the payments could change every year, and loan forgiveness was not guaranteed for anyone. The defendants included SLAC (which also used the name Aspyre), Navloan, and Student Loan Assistance Center.
The FTC first sent checks for this matter in June 2021, which resulted in nearly $200,000 in refunds. Because there is still money in the fund, the FTC is sending a second round of checks to everyone who cashed their first check.
If you get a check, please cash it within 90 days.
You can find answers to common questions about refund payments on our FAQ page. If you have any other questions, please call the refund administrator at 1-888-440-0371.