From Court House News
"Citibank, Discover Bank and The Student Loan Corporation are tricking former students into believing that their monthly payments have been cut when in fact only the payment toward principal has been lowered, generating greater interest income for the banks over the longer life of the loan, according to a federal class action.
Lead plaintiff Justin Kuehn, who is paying off four student loans, claims the defendants "are engaged in a scheme to collect additional interest at the expense of borrowers of student loans."
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