If You Obtained or Co-Signed a Student Loan Held by Northstar Education Finance, Inc. d/b/a Total Higher Educations (Northstar) or a Wholly-Owned Subsidiary of Northstar at the Time of the Suspension of a Bonus on February 18, 2008 You Could Get A Payment From A Class Action Settlement.
A class action settlement has been reached with Northstar Education Finance, Inc. d/b/a Total Higher Educations (Northstar) that resolves four putative nationwide class actions lawsuits arising out of Northstar’s February 2008 suspension of its T.H.E. Repayment Bonus Program, which was offered as a credit to its borrowers effectively lowering the interest rate for borrowers who were no more than 59 days delinquent in making their loan repayments, according to a Northstar Education student loan class action settlement notice.
The Northstar Education Finance student loan class action settlement reportedly will provide to Settlement Class Members reinstatement of the Bonus during such time as a loan is in repayment and is owned by or on behalf of Northstar and the loan account is 59 days or less delinquent, pro rata payments with a minimum guarantee for five years, and/or a distribution from a Settlement Bonus Trust Account in the event that a Settlement Class Members loan was sold, consolidated, or paid off before the Settlement Agreement was approved all in accordance with the Settlement Agreement.
Judge Donovan W. Frank. of the United States District Court for the District of Minnesota is overseeing the Northstar Education Finance student loan class action. The class action lawsuit is known as In re: Northstar Education Finance Inc. Contract Litigation, Case No. 01990-MD-08.
For more information on the Northstar Education Finance student loan class action lawsuit settlement and potential settlement benefits, visit the Northstar student loan class action settlement website:
www.northstarloansettlement.com
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