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FTC Returns Money to People Who Paid for Student Debt Relief

The FTC is sending 14,521 checks totaling more than $822,000 to borrowers who paid Student Advocates and Equitable Acceptance Corporation for student debt relief.

According to the FTC's lawsuit, these companies charged illegal upfront fees and falsely promised to help people wipe out their student loan debt or cut their monthly payments. The companies did not use the money they collected to pay down student loan balances.

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 1-877-540-0989.