Student Loan Advisors Group is one of more than 130 so-called “debt relief” businesses that we’ve placed on the NerdWallet Student Loan Watch List for illegal or questionable dealings.
You never have to pay this company or any other for student loan help. You can get legitimate student loan help for free through the Department of Education or your student loan servicer.
Why we flagged this business
Student Loan Advisors Group merged with a second company to form United Advisors Group LLC, which agreed in a 2016 consent decree to pay more than $85,000 in refunds to Washington consumers. United Advisors agreed in a separate settlement that year with Vermont’s attorney general to pay a fine and refunds, and to stop doing business in the state.
What about other ‘debt relief’ companies?
The Federal Trade Commission and the Consumer Financial Protection Bureau have been cracking down on “debt relief” companies that rip off student-loan holders, but the agencies struggle to bring action against every business. Such companies often charge borrowers to fill out free government applications, or pocket money paid to service loans. These scams can push borrowers into default on their student debt and leave their credit ruined.
NerdWallet started its Student Loan Watch List in 2017 to flag the student-loan businesses hit by enforcement actions, court judgments or liens, or bad ratings from the Better Business Bureau.
Sources: Vermont attorney general’s office; Washington attorney general’s office; King County Superior Court, Seattle; California business records; Better Business Bureau