What happened to the money not claimed by Eligible borrowers?
It was Distributed to the eligible borrowers who submitted Release Forms. The original amount that was on your Release Form was the minimum amount that you could receive under the settlement. This number was calculated based on the assumption that every eligible borrower would accept the settlement offer and it did not include the interest that was accumulated . Once processing was completed and the number of borrowers accepting the settlement offer was known, this number was recalculated. The new amount adds all the unclaimed restitution awards and the interest earned since the Settlement account was established back into the pool of dollars. Keep in mind, there is no change to the criteria that the States set up to determine eligibility for a restitution payment. The only change is to reDistribute the pool of dollars among the borrowers who did submit a valid Release Form.
