WA AG Ferguson announces recovery of more than $2 million for student-borrowers

Washington State Attorney General Bob Ferguson announced Tuesday the recovery of more than $2 million from nearly three dozen debt adjusters who preyed on student borrowers, according to a media release.

According to Ferguson’s office, the debt adjusters unlawfully charged tens of thousands of dollars in excessive fees to thousands of students in Washington.

In 2023, Ferguson’s office sued three out-of-state debt adjusters, who are now required to fully reimburse 495 students $359,832.

In total his office has helped 2,652 Washington students help with 35 debt adjusters, resulting in payments averaging nearly $800 per student.

“It is a chaotic time for millions of borrowers as student loan repayments resume after more than three years,” Ferguson said. “My office is committed to protecting Washingtonians from companies that take advantage of consumers who are simply trying to manage their debt.”

If you feel you were charged a fee more than what is allowed under the law, submit a complaint to the Attorney General’s Office Consumer Protection Division.

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