On March 27, 2017, the North Carolina Attorney General (AG) issued a press release announcing that a settlement with a student loan company that allegedly operated a “student loan debt relief scheme.”
According to the press release, Student Loan Group, a private student loan company located in North Carolina, falsely promised to reduce a borrower’s student loan debt but instead charged illegal upfront fees and failed to deliver on its promises.
As a result of the settlement, the parties filed a consent judgment requiring that the company pay $377,048 in restitution to 377 North Carolina student borrowers.
Under the terms of the settlement agreement, Student Loan Group will pay $377,048 in restitution to borrowers. The settlement agreement also prohibits Student Loan Group from charging illegal upfront fees and engaging in false or deceptive advertising.
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