Financial Advice

Student Loan Group Settles Scam Charges in North Carolina

Attorney General Josh Stein today announced that he has resolved a lawsuit against Student Loan Group, a student loan debt relief scam. Student Loan Group claimed it could reduce a borrower’s student loan debt but instead illegally charged large upfront fees and failed to perform expert services.

“Thanks to this action, Student Loan Group will refund more than $375,000 to 377 borrowers it scammed,” said AG Stein. “Students across North Carolina with significant education debt deserve effective protection against fraud. It is illegal to charge borrowers an up-front fee for these services, and my office will not let it happen unchecked.”

The consent judgment, filed in Wake County Superior Court today, requires Student Loan Group to refund a total of $377,048 to borrowers. It also prohibits the company from engaging in this type of activity in North Carolina going forward.

AG Stein and the North Carolina Department of Justice have made protecting student borrowers a priority in our work. – Source

Steve Rhode
Get Out of Debt GuyTwitter, G+, Facebook

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This article by Steve Rhode first appeared on Get Out of Debt Guy and was distributed by the Personal Finance Syndication Network.

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