Trump University refund bids at 3,700

Former Trump University students who claimed a share of the $ 25 million settlement that Donald Trump agreed to shortly after he was elected president are poised to recoup 80 cents for every dollar they spent on the real- estate seminars.

They sued for fraud, claiming they’d been duped by false promises of riches and instant success. After years of insisting the allegations were groundless, Trump agreed to the deal that’s before the court for approval Thursday.

Over half — about 3,700 — of the more than 6,000 former students have submitted claims to be part of the class- action settlement. That’s a high participation rate for a consumer class action.

A 2013 analysis by the Mayer Brown LLP law firm showed that in some cases, fewer than 1 percent of eligible beneficiaries filed claims.

The case became a flash point during the 2016 presidential election campaign as critics pointed to the allegations to raise questions of whether the Republican candidate could be trusted. Trump drew further attention to it as he accused the judge, born in East Chicago, Ind., and of Mexican descent, of being biased against him because of his pledge to build a wall between the U. S. and Mexico.

That publicity — the deal was reached 10 days after the election — helped drive up the participation rate. Also significant was how much money people spent on the classes.

Tuition ranged from $ 1,495 for a three- day seminar to $ 35,000 for an “elite” package.