$57.8 Million Settlement reached in Whistleblower case with 4 student lenders

Settlement Amount: 

A settlement has been reached in a whistleblower class action lawsuit brought against 4 student lenders who are accused of inflating their interest rate subsidies from the U.S. Department of Education.

Under the settlement, Nebraska-based Nelnet paid the government $47 million, as well as $16.6 million to the whistleblower who filed suit. Also contributing were Southwest Student Services Corp., Texas-based Brazos Higher Education Authority and Brazos Higher Education Service Corp., Texas-based Panhandle Plains Higher Education Authority and Panhandle Plains Management and Servicing Corp. 

The originally filed whistleblower lawsuit alleges that the lenders misused and cheated a federal loan subsidy program by inflating the interest rates.

If you have a similar case please fill out the form below or email mail@whistleblowerinstitute.com or call: 619-452–1218


If you or someone you know experienced a similar situation or any other wrongdoing within a corporation you should contact mail@whistleblowerinstitute.com or call: 619-452–1218

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