CFPB v. Student Financial Aid Services
The Consumer Financial Protection Bureau (CFPB) settled claims against Student Financial Aid Services for deceiving customers about the total cost of its FAFSA preparation services by subjecting consumers to recurring annual charges without their knowledge or consent.
Student Financial Aid Services, Inc. (SFAS) is a fee for service preparer of the Free Application for Federal Student Aid (FAFSA) administered by the U.S. Department of Education. The Company offers counseling and assistance to students and families seeking to file a FAFSA with the government.
Victim compensation
The CFPB contracted with Epiq Systems, Inc. to administer payments for this case and to answer questions from consumers. This matter is now closed.
Payments and check reissue requests are no longer being honored. For more information on this closed case, contact us at Consumer Financial Protection Bureau, Attn: OCFO, Student Financial Aid Services, 1700 G Street NW, Washington DC 20552.
Important dates
December 20, 2016 – April 2, 2018: Distribution