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Whistleblower Student Loan Suit Settles for $60K

This is a settlement for the Consumer and Financial Fraud lawsuit.

Washington, DC: A suit resulting from allegations made by a whistleblower from the US Department of Education, has been settled for $60,800. Known as the 9.5 student loan scandal the suit named 10 student loan companies as defendants who participated in a scheme to defraud the plaintiff.

The suit was filed under the False Claims Act after the Department of Education. The whistleblower in the case was expected to receive up to 30% of the $60,800,000 settlement.

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Published on Apr-13-11


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