MINNEAPOLIS - In a victory for student borrowers, Attorney General Keith Ellison has announced a significant settlement of over $30 million to provide relief to Minnesota students who fell victim to predatory lenders. The settlement holds Prehired accountable for their deceptive practices, requiring them to refund students' money, void outstanding income shared agreements, and permanently close.

Prehired, a 12-week training program, allegedly enticed students with promising entry-level positions offering six-figure salaries, while misleadingly assuring them that they would not be burdened with loans. However, Attorney General Ellison's investigations revealed that Prehired collected loans from students despite their false claims.

The settlement will result in nearly $80,000 being refunded to Minnesota students who were manipulated by Prehired's misleading tactics. This compensation aims to provide financial relief and restore justice to those affected by the predatory lending practices of Prehired.

This recent settlement is not the first of its kind within the education industry. Earlier this month, Attorney General Ellison announced a separate settlement with Network 46, a California-based student loan debt relief company. Ellison accused Network 46 of violating Minnesota law through their repayment program. As a result, Network 46 has been required to make restitution and pay out over $59,000 in refunds.

These settlements highlight the state's commitment to protecting student borrowers from unscrupulous practices within the education sector. Attorney General Ellison's actions demonstrate a dedication to holding companies accountable for exploiting vulnerable students and ensuring that Minnesota remains a safe environment for education and financial well-being.

University students across the state are now hopeful that these settlements will serve as a precedent for stricter regulations, empowering students to make informed decisions without fear of falling victim to predatory lenders or deceiving loan relief programs.

With this substantial settlement, Attorney General Keith Ellison sends a resounding message that Minnesota will not tolerate the exploitation of student borrowers and will pursue justice on their behalf.