The NerdWallet Student Loan Watch List is a first-of-its-kind resource for consumers who want to know more about companies offering to help reduce or eliminate their student debt for a fee.
Companies on the list have been penalized, investigated or sued by federal or state authorities. Others have amassed significant tax liens or have owners who have failed to manage their own debt. Still more were given D or F ratings by the Better Business Bureau.
NerdWallet reporters scoured federal and state public records and court documents, reviewed Better Business Bureau ratings and contacted officials in all 50 states, including state attorneys general.
NerdWallet also reviewed records of multiple federal agencies, including the Federal Trade Commission and the Consumer Financial Protection Bureau.
The list comprises more than 130 entries. For enterprises doing business under more than one name, we created separate entries.
We listed companies:
- Accused of illegal practices by a state or federal agency or found to have engaged in illegal practices by a judge;
- Managed by an individual who operates or has operated another business accused of illegal practices by a government agency or found to have engaged in illegal practices by a judge;
- Operated by someone who has incurred significant debts or a criminal conviction;
- Hit with liens for unpaid taxes; or
- Rated D or F by the Better Business Bureau
The Watch List is not exhaustive, and we will continue to update it.