The opinion of the court was delivered by: Frank C. Damrell, Jr. United States District Judge
BENJAMIN B. WAGNER United States Attorney KURT A. DIDIER Assistant United States Attorney 501 I Street, Suite 10-100 Sacramento, California 95814 Telephone: (916) 554-2700 Attorneys for the Plaintiff United States of America
SETTLEMENT AGREEMENT AND ORDER
1. Plaintiff, United States of America, and defendant Julie A. Tingler (collectively, the Parties), hereby agree to resolve the United States' civil action to recover money for Defendant's breach of her student loan contract as set forth below (the Agreement). The Agreement is based upon the following facts:
2. Defendant resides in and maintains a law practice in this District.
3. The complaint alleges that on January 24, 2005, Defendant signed an "Application and Promissory Note" to consolidate various student loans through the U.S. Department of Education's Federal Direct Consolidation Loan Program pursuant to the Higher Education Act of 1965, as amended, 20 U.S.C. § 1070 et seq. This loan was disbursed for $56,518.06 and $151,402.02 on March 4, 2005 at 5.25 per cent interest per annum.
4. Defendant defaulted on the loan on January 16, 2009.
5. The Department of Education has credited a total of $34,445.65 towards Defendant's loan balance. Nonetheless, there remains a balance due representing unpaid principal, interest and authorized attorneys' fees and collection costs.
6. The Clerk entered Defendant's default on October 22, 2010, for Defendant's failure to answer or respond to the complaint. The Parties agree that Defendant may appear in this action for the limited purpose of entering into the Agreement and concluding this case as provided herein.
7. Defendant admits the complaint's allegations.
III. TERMS AND CONDITIONS
8. In consideration of their mutual promises and covenants, the Parties agree to settle this litigation upon the following terms:
A. Entry of Judgment. Defendant consents to entry of judgment in favor of the United States in the amount of $280,000.00 (the Judgment Amount), representing unpaid principal and interest and recoverable litigation costs authorized by 28 U.S.C. § 3011. Defendant has reviewed and approved for form and content the judgment lodged with the ...