Student lender Nelnet agrees to settle whistleblower suit for $55 million

by Ben Vernia | August 25th, 2010

According to an August 13 press release from Nelnet, Inc., and an article in the Omaha World-Herald, the company agreed to pay $55 million to settle claims, brought by qui tam relator Jon Oberg, that the company had received an “artificially high rate of return” on student interest loans it originated.

Neither the press release nor the article identified the relator’s share of the recovery. The company had also paid a civil settlement to the Department of Education in 2007.

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