Education loan servicer shuts down, grads left in standard

Karen Morris will pay all her bills on time. Regrettably, that will not need aided within the situation of her education loan.

The previous scholar recently received a letter through the FTC informing her that it is freezing the assets of her student loan servicing business, Mission Hills Federal of north park.

« The Federal Trade Commission ended up being closing them down because they do say it absolutely was a student-based loan scam, » she stated.

The FTC claims Mission Hills took in more than $23 million from college grads like Morris, then again presumably kept the money and did not repay their student education loans.

But that is not the worst component. Now the united states Department of Education tells her it shall simply take her taxation return or garnish her wages to obtain the cash she owes.

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