Silver State Helicopters Settlement Preliminarily Approved

The federal district court in Tampa has granted preliminary approval of a proposed class action settlement involving students who were enrolled at Silver State Helicopters when it ceased doing business and whose tuition was financed through a student loan from Student Loan Xpress.

A court-approved notice describing the proposed settlement will be mailed to all class members by the end of the year. The proposed settlement provides for substantial forgiveness of loans and reduced interest rates on remaining loan balances, along with other benefits. Attorneys appointed by the court to represent the class, including Chris Casper of James Hoyer, will hold a series of town meetings in January where class members may ask questions about the proposed settlement. Any class members with questions about the proposed settlement may also email class counsel at settlementquestions@gmail.com. The court will hold a final hearing on March 22, 2009, to consider whether to grant final approval of the settlement.