DFS Superintendent Linda A. Lacewell Announces Settlement with National Student Loan Servicer of For-Profit Schools

Posted to Applied Web NY on Thu, 08/15/2019 - 12:41

Financial Services Superintendent Linda A. Lacewell today announced that the Department of Financial Services (DFS) entered into a $236,309 settlement with student loan servicer Tuition Options LLC and its parent company, EDvantage LLC, under which the companies will pay a $203,000 civil penalty and $33,309 in disgorgement to the State of New York. The settlement stems from DFS’s investigation of whether Tuition Options engaged in the business of a sales finance company without a license.

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