Prehired Reaches $30 Million Student Loan Deal With CFPB, States

Bankrupt tech “boot camp” provider Prehired agreed to a settlement totaling more than $30 million with the Consumer Financial Protection Bureau and 11 states over claims the company made false statements to student borrowers and engaged in abusive debt collection tactics.

Prehired agreed to return about $4.2 million to student borrowers who took out income share agreements from May 2019 to March 2023 as part of the settlement filed Monday in the US Bankruptcy Court for the District of Delaware. The company also agreed to cancel all outstanding income share agreements, totaling around $27 million, as part of the deal. ...