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Borrower Beware: Nationwide Student Aid LLC

Loans, Student Loans

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 watchlist@nerdwallet.com.

The operators of Nationwide Student Aid LLC were banned in 2016 from conducting any student loan debt relief business in the state of Illinois and all contracts with Illinois customers were rescinded.

The state court action settled a lawsuit filed by the state attorney general in 2015 that listed nine pages of violations of state consumer protection and business laws.

Enforcement actions: The student loan business ban and nullification of contracts were part of court ordered consent decrees signed by each of the two operators of the company, Justin Morgan Kranzler and Brian Mishoulam.

Kranzler was ordered to pay $2,000 to the state; Mishoulam was ordered to pay $7,500.

What the company claims to provide: Document preparation services related to applying for loan forgiveness and consolidation programs

Based: Chicago

Management: Justin Morgan Kranzler, principal and member; Brian Mishoulam, principal and member.

Sources: Illinois attorney general; Illinois secretary of state; Cook County Chancery Court


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