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Sollers Inc. which is based in Piscataway, used false and misleading job advertisements to funnel students into its programs and falsely claimed that agreements requiring students to pledge a portion of their future income in exchange for money upfront for their programs was not a loan, Attorney General Matthew Platkin said. Sollers also reached a settlement with the Federal Trade Commission.
As part of the settlement, Sollers will cancel $3.4 million in student debt for more than 400 students, 60 of whom live in the Garden State.
People complained when they applied for IT jobs at a site like Indeed, they would receive a response from Sollers requiring them to complete an IT training program that would cost $15,000, with the promise of a guaranteed job at the end, Platkin said. Victims alleged that no employment was obtained at the end of the program they completed with Sollers, Platkin said.
“New Jersey will not allow for-profit schools to deceive students with false claims and promises or subject them to unlawful financing schemes that push them into debt instead of helping them reach their career goals,” said Attorney General Platkin. “Schools that fail to comply with laws and regulations that protect students from financial abuses and fraud will be held accountable.”
Sollers had been under investigation since late 2020, Platkin said.
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