Scam

Student Loan Scam: 11 Million Returned to Students

The Consumer Financial Protection Bureau (CFPB) has cracked down on a student-debt relief company for predatory behavior. The company, GST Factoring, was ordered to pay $11 million to 2,600 borrowers who were charged illegal upfront fees. The company was also banned from engaging in any debt relief services going forward. The CFPB’s investigation found that …

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2.9 Million Returned to Consumers Harmed by the Warrior Trading Investment Program

The Federal Trade Commission (FTC) is distributing payments of over $2.9 million to 20,402 individuals who were misled by Warrior Trading’s investment programs. Warrior Trading made false and unrealistic claims to sell a day trading system that did not deliver results for most customers. The FTC will send the payments via check and PayPal, and …

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$830,000 Returned to Students Misled by Saint James Medical School’s Deceptive Marketing Claims

The Federal Trade Commission is sending payments totaling more than $830,300 to 1,376 people who began their enrollment at Saint James School of Medicine between Fall 2016 and Summer 2021. The for-profit medical school in the Caribbean and its Illinois-based operators allegedly misled prospective students about their chances of success—both in passing a medical school …

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Did you hear about the student loan announcements? Scammers did, too.

You’ve probably already heard about the new government plan that will forgive some federal student loans, once it’s up and running. Also in the news: the federal student loan payment pause has been extended to December 31, 2022. But scammers are watching the news, too, so know this: you don’t need to do anything or …

Did you hear about the student loan announcements? Scammers did, too. Read More »

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