(KNSI) – Minnesota Attorney General Keith Ellison says his office has settled with a fraudulent California student loan debt relief company.
Direct Account Management has agreed to stop operating in the state and will pay back over $20,000, representing a 100% refund for Minnesotans ripped off by the company. Direct Account Management charged high upfront fees to enroll clients in repayment or student loan consolidation plans, options available to them for free through the United States Department of Education.
Ellison says, “Minnesotans take out student loans in good faith so they can get educations that will help them better afford their lives. My office is showing once again that when companies take advantage of that good faith to rip Minnesotans off, we will come after them.”
The Attorney General’s office says in a press release that it has secured a settlement 12 other times with similar companies since 2016.
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