FTC Sends $ 316,000 to Over 10,000 People Who Lose Money Due to Student Loan Debt Relief Program

In a settlement with the FTC, the defendants agreed to pay funds

The Federal Trade Commission sends checks totaling over $ 316,000 to 10,689 people who have lost money due to a student loan debt relief program. (FTC image)

BREVARD COUNTY, FLORIDA – The Federal Trade Commission is sending checks totaling over $ 316,000 to 10,689 people who have lost money to a student debt relief program.

In a complaint first announced in March 2020, the FTC alleged that SLAC (which also used the name Aspyre), Navloan and Student Loan Assistance Center, and their owner, Adam Owens, falsely told consumers that for upfront fee of $ 699 and a monthly fee of $ 39, the defendants would reduce or permanently eliminate student loan debt.

In reality, payments could change every year and loan cancellation was not guaranteed to any consumer. The FTC also alleged that the defendants paid consumers for positive reviews on the Better Business Bureau website and failed to disclose those payments.

As part of a settlement with the FTC, the defendants agreed to release funds, which are used to send payments to affected consumers.

People who receive checks must deposit or cash their checks within 90 days as stated on the check.

Recipients who have questions about their checks can call the Refunds Administrator, Analytics, at 888-440-0371.

The FTC never requires people to remit money or provide account information to cash a refund check.

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