This company is on the NerdWallet Student Loan Watch List. The list flags student-loan businesses and individuals hit by enforcement actions, court judgments or liens, or bad ratings from the Better Business Bureau. Learn more in Who Gets Listed. Have you dealt with this business, or encountered a suspicious student-loan company that NerdWallet public interest reporters should investigate? Let us know at email@example.com.
A Minnesota court banned National Student Servicing in 2016 from doing business in the state, imposed a $45,000 fine and notified the company it would face another $75,000 fine if it violated the terms of the court order.
In October 2017, National Student Servicing was included in a publicized crackdown on student debt relief fraud by the Federal Trade Commission and 12 attorneys general — a joint enforcement effort called “Operation Game of Loans.”
The Better Business Bureau has given National Student Servicing an “F” grade.
Enforcement actions: The court’s action stemmed from a Minnesota attorney general’s complaint that National BPO LLC, doing business as National Student Servicing, illegally charged state clients upfront fees, failed to register with the Minnesota Department of Commerce, failed to get proper written documentation from clients and gave them deliberately confusing information.
What the company claims to provide: Loan consolidation services
Management: Jeffrey DaPra, managing member. DaPra is also listed as the CEO of America’s Debt Choice LLC, a debt consultancy that was suspended by the California Franchise Tax Board.
Based: Santa Ana, California
Sources: Minnesota attorney general; California business filings