Massachusetts Keeps Pressure On Student Lending Industry

Massachusetts Keeps Pressure On Student Lending Industry

Sep, 14th 2016

Massachusetts Attorney General Maura Healey has announced a settlement with Libre Technology Inc. for allegations of charging Massachusetts borrowers unlawful upfront fees, among other charges. The settlement comes as part of Healey’s ongoing effort to curb student lending industry abuses.

According to Healey’s office, Libre is one of a number of companies that advertise “student loan debt relief” or “Obama student loan forgiveness,” charging consumers hundreds of dollars to help arrange lower monthly payments. The companies fail to mention that borrowers can apply for this federal loan assistance on their own and for free.

Libre will refund $160,000 to more than 400 Massachusetts consumers. “Student loan debt is crushing students, their families and our communities, and many companies have taken advantage...

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