Advertiser Disclosure

Borrower Beware: Student Loan Forgiveness Center

Loans, Student Loans

Student Loan Forgiveness Center 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

At the time of this Watch List posting, the Better Business Bureau had given Student Loan Forgiveness Center an “F” rating. The Beverly Hills company also does business as the Student Debt Relief Center, which is the name by which it’s registered in the state of California.

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: Better Business Bureau; California secretary of state; Delaware secretary of state