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In this bulletin:
- FTC Warns Frank Financial Aid to Stop Potentially Misleading Marketing Directed to Students Seeking Coronavirus Financial Relief
- Student loan debt and COVID: FTC sends warning letter to Frank Financial Aid
FTC Warns Frank Financial Aid to Stop Potentially Misleading Marketing Directed to Students Seeking Coronavirus Financial Relief
The Federal Trade Commission has sent a warning letter to a company that markets financial aid prep assistance to post-secondary students, notifying the company that it could potentially be misleading consumers about access to a coronavirus relief program.
Student loan debt and COVID: FTC sends warning letter to Frank Financial Aid
For people dealing with student loan debt – your employees, a family member, or maybe you – the CARES Act gives emergency grants to qualifying borrowers. But like other financial assistance programs, consumers need to know key details up front. As part of its ongoing effort to monitor the marketplace for questionable claims arising from the COVID pandemic, FTC staff just sent a warning letter to New York-based Frank Financial Aid, raising concerns about representations regarding CARES Act grants, as well as a cash advance product the company is advertising.
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