Student Loan Assistance Programs

Can the Company Named Student Loan Movement Really Help Me?

Written by Steve Rhode

Question:

Dear Steve,

I am a teacher in Texas in a lot of debt when I say this organization and the movement against the government on this topic. I find too much information not enough clarity.

A non profit called student loan movement in California has a forgiveness program offering and I not sure I should pay for this nonprofit. I found out little about them I live out of state in Texas but somehow talked with them.

Since they are non-profit can they still charge me fees for the program

Than you very much – B

Answer:

Dear B,

I did locate a company named Student Loan Movement that says they are located at 500 N. State College Blvd. #1100, Orange CA 92868. – Source

That address appears to be a month-to-month virtual office space.

As of the time of this post, the State of California has no listing for a company named Student Loan Movement that is registered to do business.

You asked if a non-profit can charge you a fee for services. Absolutely they can. Most people misunderstand what being a non-profit really means. They can run like a business and make a profit, they just don’t pay tax on the profit they make.

I searched the IRS site for registered charities and there was no result for a company named Student Loan Movement.

It’s not clear from your question what your issue is regarding your student loans. If you are looking for lower payment options for federal student loans, they are available. A good place to start is by using the free federal student loan repayment estimator.

If you want to take a closer look at this company then I would recommend that you should read the following free guides.

  1. The Ultimate Consumer Guide to Checking Out a Debt Relief Company Before You Sign On the Line
  2. 10 Must Do Steps to Find the Best Credit Counseling or Debt Settlement Company for You
  3. How to Check Out a Business or Company to Avoid Getting Scammed or Ripped Off

At this point, it is not clear who this company really is, or who is behind it. The company name is so generic that it makes it hard to research.

If you gather any more information, let me know in the comments below.

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About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

4 Comments

  • hi Steve i see the BBB had a few negative remarks on the company both about not doing the work and taking money up front for their programs. The website seems to be a good program and says that it is different than the serverser can offer. Do you know what type of program that could be my daughter is in default and we saw this program.

    She reads your blog and saw your article. Any word of wisdom?

    best to you

    • When it comes to federal student loans I can’t think of a single program that is not able to be offered through a servicer. They all flow from the Department of Education.

      The only exception would be when people need a combination of solutions for difficult situations. For example, these loans need to be in solution A while these need to be in B and C. But that is a level of deep expertise you don’t typically see in a company that claims to be a “document preparation company.”

      Either a company is a professional consultant delivering a professional service or if they want to claim all they do is fill out forms, that’s fine, but that’s a very different service. Student Loan Movement specifically states in the message on the bottom of the site that they do not provide “financial advice. Our services are only for the preparation of your federal direct consolidation loan, discharge, rehabilitation or payment plan request documents.”

      Here is the official advice directly from the Department of Education. https://studentaid.ed.gov/sa/repay-loans/default/get-out

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