If you made payments to Ameritech for what you thought was your student loan, you may be getting a refund soon. Today, the FTC and DOJ are sending more than $9 million in refunds to people who lost money to this scheme. Think you might be eligible? Read on for information on what to do.
Ameritech employees tricked people into thinking they qualified for federal student loan and forgiveness programs. In reality, the illegal up-front fees (up to $800) and monthly fees ($49-99) that they charged — that were supposed to pay down student loan balances — instead went straight into Ameritech’s pockets.
More than 22,000 people are getting refunds and most will get a check in the mail. Those checks need to be cashed within 90 days. But if you didn’t have an address on file, you’ll get your payment through PayPal.
If you have questions about your payment, contact the refund administrator, Rust Consulting, at 1-833-579-3126. You can also look over frequently asked questions about the refund process.
Did someone say you need to pay money or give personal information to get an Ameritech refund? That’s a scam. The FTC will never charge you money or demand you share personal information to get a refund. Anyone who does is a scammer.