KEY TAKEAWAYS
- The Federal Trade Commission helped end a $10 million student loan debt relief scheme by Nevada-based company Superior Servicing.
- A federal court recently placed Superior Servicing under a temporary restraining order and froze its assets after an FTC lawsuit in 2023.
- The company had allegedly made false claims that they were affiliated with the U.S. Department of Education and could offer customers loan consolidation, reduced interest rates, reduced monthly payments, or loan forgiveness.
- Operators collected up to $899 as initial payments from borrowers, in addition to monthly payments, the FTC said.
The Federal Trade Commission (FTC) helped end a $10 million student loan debt relief scheme that allegedly collected illegal…
