Nelnet Inc. and Nelnet Educational Load Funding Inc., Brazos Higher Education Authority and Brazos Higher Education Service Corp, Panhandle Plains Higher Education Authority and Panhandle Plains Management and Servicing Corp have settled a False Claims suit for a total of $57.75 million.

The suit was brought by Dr. Jonathan Oberg, a former Department of Education employee, who alleged that these lenders created billing systems that improperly inflated interest rate subsidies from the Department of Education. Dr. Oberg will receive a total of $16.65 million from these settlements.

Read the entire article, “Four Student Aid Lenders Settle False Claims Act Suit for Total of $57.75 Million.”