SEATTLE (Legal Newsline) — Washington state Attorney General Bob Ferguson has announced favorable resolutions for consumers with multiple student loan adjustors that allegedly overcharged students in the state and collected unlawful fees.
The defendants must pay a total of $162,000 to Washington students as refunds for alleged illegal charges. They will pay an additional $56,000 total for attorney general’s costs and attorney’s fees. 346 Washington student victims will receive full refunds of money lost.
Student loan debt adjustment firms offer to complete paperwork on behalf of consumers to consolidate federal student loans. Ferguson’s office notes, however, that fee help is available directly from the U.S. Department of Education.
“Students graduate from Washington colleges with an average of nearly $25,000 in debt,” Ferguson said. “These firms preyed on students who sought their help. I will not tolerate the financial abuse of Washington students overburdened with debt.”
Defendants in the case include SLRS LLC, Student Debt Solutions LLC, United Advisors Group LLC, American Student Loan Consolidators LLC, Debt Relief Pros Inc. doing business as Student Debt Relief, U.S. Direct Student Loan Services and National Student Loan Solutions.