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Loan Servicer to Pay $7.9 Million Over False Loan Claims

White Collar & Criminal Law

Jan. 14, 2022, 4:56 PM

Conduent Education Services LLC, a contractor that serviced student loans for lenders under the Federal Family Education Loan Program, agreed to pay $7.9 million to resolve allegations that it violated the False Claims Act by submitting or causing the submission of false claims to the Department of Education, according to a Friday news release.

Between 2006 and 2016, CES allegedly failed to make required financial adjustments to borrower accounts and improperly treated some borrowers as eligible for military deferments when they were not, which resulted in incorrect reporting to the Department of Education. The contractor, doing business as ACS …

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