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.
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
Based: San Diego
Management: Dave Canon, president; Christopher John Sulentic, CFO
Sources: U.S. Department of Education; California business filings