Raoul Announces Relief Checks for Victims of Prehired Student Loan Scheme

CHICAGO — Illinois Attorney General Kwame Raoul announced that victims of the defunct student lender Prehired LLC are now receiving relief checks from a $30 million settlement reached in 2023. Following pressure from Raoul and a coalition of attorneys general, the Consumer Financial Protection Bureau is distributing $4.2 million to about 660 borrowers misled into using high-cost, deceptive loans to enroll in Prehired’s online tech sales program. The Delaware-based company falsely promised job placement with high salaries and enforced aggressive collection tactics on students who could not repay. The 2023 court order also voided $27 million in outstanding loans and banned Prehired from future involvement in vocational lending or training