Don’t Trust These Companies With Your Student Debt

Public Interest Reporting

Don’t Trust These Companies With Your Student Debt

Borrowers, beware of student loan scams. This Watch List names companies that charge for fraudulent or questionable debt relief services.

Use Our New Tool to Protect Yourself

To help consumers avoid costly mistakes, our reporters and researchers have mined public records of hundreds of companies profiting from student loans. NerdWallet Student Loan Watch List is the nation’s first of companies whose conduct, legal sanctions or ownership give borrowers reason to be wary. For more on our approach, see Who Gets Listed.

Beware of these companies

Have you encountered a suspicious student loan company that NerdWallet public interest reporters should investigate? Let us know at watchlist@nerdwallet.com.

Feds Point Fingers As ‘Debt Relief’ Companies Prey On Student Loan Borrowers

Fraudulent “debt relief” companies are preying on the most vulnerable of the 44 million people with student loans, as federal officials dispute who’s to blame and what to do, a NerdWallet investigation has found.

States Play Whac-A-Mole With Student Loan Relief Scams

As federal agencies lag in enforcement of fraudulent student loan relief companies, businesses banned by some states continue misleading borrowers elsewhere.

Company Insider Struggles With Student Loan Debtors’ Misery

Bob Greenberg, a call center manager for a multimillion-dollar student debt relief operation in Florida, struggles with his conscience as the company’s tactics unfold.

Distressed Borrowers Say Student Debt Help Was Anything But

Three borrowers who deal with debt relief companies say being scammed hurt more than being short of money.

Caring Counselor Offers Real Help in Student Debt Crisis

Certified student loan counselors like Taunya Kennedy are islands of trustworthy advice in a sea of of deception filled with companies that claim to provide assistance — for a steep price.

They try to take advantage of desperation.”

Janna Champagne student loan borrower

By the numbers

Frauds Multiply As Student Loan Debt Surpasses Auto and Credit Card Borrowing

Fraudulent debt relief companies capitalize on growing student loan debt in the U.S. The scammers’ targets: struggling borrowers among more than 44 million people shouldering nearly $1.4 trillion in outstanding student loans.

Source: Federal Reserve Bank of New York Consumer Credit Panel/Equifax

One In Six Student Loan Holders Falls Seriously Behind and Becomes Target

Debt relief companies have an expanding pool of desperate borrowers to choose from. More than 7 million borrowers had fallen seriously behind on payments in 2015. Another 20 million remained current but were failing to reduce their balances.

Source: Federal Reserve Bank of New York Consumer Credit Panel/Equifax

These steps can ease debt woes

You don’t have to pay for student loan help. Learn how to avoid scams and manage your student loans on your own for free through the U.S. Department of Education.

How to spot a student loan scam

Learn the red flags to look for.

Cheated By Student Loan ‘Debt Relief’ Firm? What To Do

Here are six steps to take to end contact with such companies and get the student loan help you need.

How to get federal student loan forgiveness

Four programs could cancel or lower balances.

A guide to student loan consolidation

Federal consolidation won’t lower your rate, but it may be necessary.

Find the best repayment plan for you

You can choose from eight plans to pay your federal student loans.

Survey: Student loan debt relief companies cash in on confusion

Borrowers who pay for student loan help spend $613 on average.

Something about this, it just tears at my heart.”

U.S. Rep Elijah Cummings D-Md

Watch List

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1File.org

Academic Debt Alliance

Action Administrative Services

Advantage Student Loan Consolidation

Advantage Student Loans

Affordable Life Plans

Aiding Student Relief

American Student Loan Consolidators

American Student Loan Forgiveness & Debt Relief

ASF Assistance

Benchmark Processing Inc.

Bright Futures Financial Corp.

Broadsword Student Advantage

College Education Services

College Financial Advisory

Consolifi Inc.

Consumer Assistance Project

Consumer Financial Resources

Consumer Protection Counsel, P.A

Debt Relief Pros Inc.

Direct Student Aid

DFL International

Docs Done For You Inc.

Document Aid Relief

Done With Loans

Equitable Acceptance Corporation

Federal Student Aid Relief

Federal Student Loan Alliance

FedLoan Help Center

Financial Help Services Inc.

First American Student Aid

First American Tax

First American Tax Defense

Freedom Student and Tax Defense

Global Financial Support Inc.

Good EBusiness

Grads1st

GreenStudent

Help Assist Me Default Resolution Services

Horizon Debt Group

Interactiv Education

Lexington Doc Prep

Liberty Tax and Student Loan Defense

Life Cycle Student Loan Relief

Merrill & Hart

Miller Student Loan Consulting

Nation Wide Consumer Debt Relief Inc.

National Secure Processing

National Student Aid Care

National Student Aid Center

National Student Loan Help

National Student Loan Rescue

National Student Loan Solutions

National Student Loans

National Student Servicing

Nationwide Student Aid

Navloan

Performance Debt Relief

Performance Settlement

Performance SLC LLC

Post Grad Aid

Private School Loans Relief

Progress Advocates Group

Reliant Account Management

Rubik Payment Solutions

Select Document Preparation Inc.

Select Student Loan

Select Student Loan Help

Simple Student Loan Solutions

SL Programs

SLRS

Strategic Debt Solutions

Strategic Doc Prep Solutions

Strategic Student Solutions

Student Advocates

Student Aid Center Inc.

Student Aid Institute Inc.

Student Consulting Group Inc.

Student Debt Center

Student Debt Relief

Student Debt Relief Center

Student Debt Relief Group

Student Debt Resolutions Inc.

Student Debt Solutions

Student Financial Resource Center

Student Legal Services

Student Loan Advisors Group

Student Loan Aid

Student Loan Assistance Center

Student Loan Assistance Center (Florida)

Student Loan Care

Student Loan Consultants of America

Student Loan Counsel

Student Loan Educators

Student Loan Forgiveness Agency

Student Loan Forgiveness Center

Student Loan Group

Student Loan Help Direct

Student Loan Managers

Student Loan Processing.US

Student Loan Relief Advisors

Student Loan Repairman Inc.

Student Loan Resolution Center

Student Loan Resolve

Student Loan Service

Student Loan Service Managers

Student Loan Services

Student Loan Servicing Center

Student Loan Solutions

Student Loan Support

Student Loans Processing Corp.

Student Reform Associates

Student Relief Center

Student Zoom LLC

StudentLoan911.org

Sunshine Document Preparation Inc.

The Center for Student Debt Reform

The Student Loan Help Center

The Student Loan Project

The Student Loan Relief Department

U.S. Student Loan Services Inc.

United Advisors Group

United Student Loan Division

University of One

US Direct Student Loan Services

US Financial Freedom Center

US Student Loan Center

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Reporters: Richard Read, Teddy Nykiel and Alex Richards
Editors: Drex Heikes and Alex Richards
Copy editors: Erica Harrington, Carolyn Kimball, Jim McNett and Kenley Young
Researchers: Djamila Salem Fitzgerald, Jeremy Borden, Amanda Waldroupe, Beth Slovic and Nona Yates

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