FTC Sends More Than $4.1 Million in Refunds to People Who Lost Money to Student Loan Debt Relief Scheme

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Summary:

The Federal Trade Commission (FTC) has announced the sending of $4.1 million in refunds to 27,584 consumers who lost money to student loan debt relief scammers. The scam involved fake loan forgiveness claims and the operators tricked students into paying hundreds to thousands of dollars in illegal upfront fees. The FTC filed a complaint in 2019 against the operators of Mission Hills Federal and Federal Direct Group, alleging that they preyed on consumers and misused their money. The refunds are being sent to consumers for their losses, and they are advised to cash their checks within 90 days and contact the refund administrator if they have questions.