Over $9 Million Is Being Refunded to Student Loan Scam Victims – By Dan Avery (CNET) / Aug 25, 2023
Ameritech Financial pocketed as much as $28 million from tens of thousands of unsuspecting borrowers, the FTC says.
More than $9 million is being refunded to victims of a student loan debt scam, with the US Federal Trade Commission and the Department of Justice issuing the funds.
Payments will be sent to the 22,562 people who gave up to $800 in up-front fees and up to $99 in monthly membership dues to a company called Ameritech Financial, the FTC said Tuesday.
Ameritech misled as many as 40,000 borrowers about being eligible for programs that would greatly reduce their federal student loan payments or result in complete forgiveness, according to a 2018 complaint.
