2 lenders are from the Panhandle
ALEXANDRIA, Va. (AP) - Four student loan companies are paying the U.S. government nearly $58 million to settle claims they inflated their interest rate subsidies from the U.S. Department of Education.
Under the whistleblower settlement finalized Wednesday, Nebraska-based Nelnet paid the government $47 million, as well as funds to a whistleblower who filed suit.
Also contributing were Southwest Student Services Corp., Texas-based Brazos Higher Education Authority and Brazos Higher Education Service Corp., Texas-based Panhandle Plains Higher Education Authority and Panhandle Plains Management and Servicing Corp.
Jonathan Oberg, a former Education Department employee, filed the suit. He received $16.6 million from the settlements.
The settlements were announced in August.
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