Quick Answer: My College Loan Support appears to be a scam based on multiple red flags including an unverifiable business address in Sacramento, hidden domain ownership, and refusal to provide client agreements upon request. The company cannot be found in California business registrations and lacks transparent management information.
Company Name
My College Loan Support
Default Student Loan Specialists
Our Impression of What the Company Offers to Consumers
Student loan consolidation services.
However, the company can’t be verified, the management is a mystery, the local appears to not be a real address and the domain ownership is hidden. The company also did not send the client agreement for review after multiple requests.
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Address
Default Student Loan Specialists
www.defaultstudentloanspecialists.com
975 Elk Grove
Sacramento, CA 95758 – Source
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Google Maps says that the address is not a valid address and could not be found. A search for just “975 Elk Grove” 95758 could not locate a valid address either.
Additional Contact Information
877-536-0087
info@mydefaultedloans.com
Company Description
In an industry where people are often treated like numbers, we’re different. We take the time to learn about our clients on a one-on-one level. We’ll ask you questions about your unique situation, listen to your story, and custom-design you a loan consolidation program that’s best suited for your needs. – Source
Management
Possibly Matthew Gazda.
Company Information
Company does not appear registered to do business in California as a corporation or LLC under the name Default Student Loan Specialists.
Services
They state their services are:
- Put your payments back on track
- Help you escape default
- Stop harassing telephone calls and wage garnishment
- Recover your credit score – Source
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Relationships
The company privacy policy said the contact address was info@mydefaultedloans.com.
Student Loan Assistance, mydefaultedloans.com
They list their address as:
Default Student Loan Assistance, LLC.
300 Brickstone Square
#201
Andover, MA 01810 – Source
Default Student Loan Assistance, LLC is registered in the Massachusetts. – Source
The company was registered with it’s office at 191 Merrimack Street, Suite 302, Haverhill, MA 01830.
They listed their business as:
WE ASSIST WITH A FEDERAL CONSOLIDATION APPLICATION THAT IS APPROVED BY THE US DEPARTMENT OF EDUCATION. INTEREST RATES ARE BELOW 8.25 PERCENT AND ARE NOT CREDIT BASED. – Source
The LLC owner is listed as Matthew J. Gazda.
A Matthew Gazda was listed as the COO of Student Loan Solutions, LLC. The company was described as “one of the leading providers of student loans, generating over $150 million in loan volume in 2004” – Source
Student Loan Solutions LLC was located as 224 Main Street, Suite 3C, Salem, NH 03079. The BBB reports the company is no longer in business. – Source
Matthew Gazda is reported to also be the active officer for Default Federal Student Loan Help, LLC. The company is now reported as dissolved. – Source
Default Federal Student Loan Help, LLC is shown to have been the focus of a State of New Hampshire Banking Department consent order that states:
Default Federal Student Loan Help, LLC (“DFS”) was a limited liability company duly formed in the State of New Hampshire on February 9, 2009 with its principal office location in Windham, New Hampshire. DFS dissolved or was withdrawn or canceled on December 27, 2010. In New Hampshire, DFS had not been previously licensed as a Debt by the Department.
DFS no longer wishes to become licensed in the State of New Hampshire as a Debt Adjuster, even though it has a pending Debt Adjuster license application with the Department.
In 2009, DFS conducted debt adjuster activity for two (2) New Hampshire consumers without a valid Debt Adjuster license issued by the Department. Fees charged and collected by DFS for Consumers A and B total $999.98.00 as follows:
Consumer A: $499.99; and
Consumer B: $499.99.During the request for information, DFS cooperated and provided the information to show it did conduct business in New Hampshire without proper licensure. – Source
Interesting Points
Despite a number of requests to review their client agreement, it was never sent.
The marketing representative said “I would be more than happy to give you free advice and help point you in the right direction to get assistance with your current loan situation.” yet never mentioned I could contact the Department of Education directly for free.
Website
Domain Information
defaultstudentloanspecialists.com
Registered on September 1, 2011.
Ownership is hidden.
mydefaultedloans.com
Registered on January 5, 2009.
Ownership is hidden.
Marketing Material
An email from a company representative said:
I just wanted to follow up with your on-line inquiry that you had made with us and see if we could be of assistance in any way. If you qualify for our program, we can get you out of Default within 45-60 days, stop any current wage garnishment or prevent it from happening, stop income tax interception, or unruly calls from collection agencies. Regardless of your situation, I would be more than happy to give you free advice and help point you in the right direction to get assistance with your current loan situation. Please feel free to call or e-mail me at any time
Matt Roy
Student Loan Specialists
Direct: (916) 520-8383
Fax: (888) 426-8195
www.DefaultStudentLoanSpecialists.com
You would certainly qualify for the Federal Loan Consolidation program. I have included all of the great benefits to the program:
Advantages of Loan Consolidation:
1. Get Your Current Student Loan – OUT OF DEFAULT. (Approximately 45-60 day process).
2. New Federal Agency to Pay off existing loan amount.
3. Receive all of your borrower benefits back that you previously had when you were In good standing with your current loan.
4. STOP THEM FROM TAKING YOUR INCOME TAX MONEY THIS YEAR!!!
5. Payment relief by combining all of your payments into 1 loan.
6. CAN STOP YOUR CURRENT WAGE GARNISHMENT.
7. Can stop any harassing phone calls you may be getting pertaining to your loan.
8. Service Fee: $599.00 – Broken up into (3) consecutive payments of $199.00/month.
Matt Roy
Student Loan Specialists
Direct: (916) 520-8383
Fax: (888) 426-8195
www.DefaultStudentLoanSpecialists.com
Our Opinion After Review
We previously wrote a guide on what companies should offer in a fair and consumer friendly student loan service program. Please read How to Run a Clean Student Loan Assistance Program. In addition we provide the following guides to check out debt relief companies:
- The Ultimate Consumer Guide to Checking Out a Debt Relief Company Before You Sign On the Line
- How to Check Out a Business or Company to Avoid Getting Scammed or Ripped Off
- Program Fees Clearly Stated on Site: No
- Client Agreement Clearly Available on Site: No
- States Consumers Can Contact Department of Education Directly to Consolidate and Reduce Payments for Free: No
- Provides clear link to Department of Education Loan Options: No
- Provides Historical Performance Statistics: No
- Clearly Identifies Management/Officers on Site: No
- Company is Clearly Registered to Business: No
It is our opinion the program reviewed here DOES NOT MEET OUR RECOMMENDED STANDARDS.
Scam, Complaint, Review or Praise
Consumers:
If you’ve had experience with this company, good or bad, you would like to share, please post your comments in the comments section below.
If you have a client agreement or paperwork you can share which this company gave you, you can do so here.
Owners:
If this is your company, please read the site review policy and feel free to post information in the comments you would like to share about your company.
If you feel something reported in this review is incorrect, please report it here so we can fix the error.
For Those Looking for Student Loan Resources
Before you pay any company for assistance with your student loans, be sure to check out our free student loan assistance links and guides below.
Before You Sign Anything: Run any debt relief contract through the free Contract Decoder to spot hidden fees and unfair terms. Check the company’s complaint history with the Scam-O-Meter.
Compare Your Real Options: Most debt relief companies won’t tell you about all your options — especially the ones they can’t profit from. Credit counseling has a 21-27% completion rate. Settlement resolves about 1% of enrolled debts fully. Bankruptcy has a 95% discharge rate — and protects your retirement. Take the Find Your Path quiz for a recommendation based on your actual numbers.
When I pressed the representative to share success rates and confirm the real address they said:
“Hmmm, unfortunately I will not be able to share any “figures” with you, since its proprietary information. Also, the address on the website is in fact accurate. If you need help with your student loans than feel free to call me conversely, if you are fishing for information for various reasons than I have no interest in discussing our process.”