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FTC Sends Money to Student Loan Borrowers Harmed by Debt Relief Scam

News Competition Sanctions & Fines
Date: 5th Aug, 2025 Source: Federal Trade Commission Country: USA Original Source

Brief

On October 2023, the Federal Trade Commission (FTC) sent $743,230 to student loan borrowers harmed by a debt relief scam. The FTC alleged that BCO Consulting Services Inc., SLA Consulting Services Inc., and their owners falsely promised loan forgiveness and bilked students out of millions, convincing them to pay hundreds to thousands of dollars in illegal upfront fees.

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Federal Trade Commission

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