Advertiser Disclosure

Borrower Beware: The Student Loan Project

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 U.S. Department of Education issued a cease and desist letter to The Student Loan Project in 2016, accusing the company of misleading practices, including using the Department of Education’s official seal on its website and falsely suggesting that its activities were authorized by the U.S. Department of the Treasury.

The federal government also objected to the loan servicer’s use of “.us” in its URL.

Enforcement actions: The U.S. Department of Education ordered the group to stop the above  practices and to post a disclaimer on its website that the company was not affiliated with or endorsed by the U.S. Department of Education.

What the company claims to provide: Student loan forgiveness and lower monthly payments

Website: http://studentloanproject.us/

Based: San Diego

Management: Dave Canon, president; Christopher John Sulentic, CFO

Sources: U.S. Department of Education; California business filings


Sign up for our email alerts to help you protect your wallet. Join the conversation and share your stories with NerdWallet’s investigative team on Facebook.