Professional Student Loan Solutions – Review. Are They a Scam?

Company Name

Professional Student Loan Solutions

Our Impression of What the Company Offers to Consumers

Our researcher was able to get information from this company much easier than from other companies. I do have to give them props for sending the client agreement and fees without forcing consumers through hoops. A positive sign.

The email they sent said:

“Our website: ProStudentLoanSolutions.com

Thank you for your interest in the Defaulted Student Loan Program. You have just taken the first step toward getting your student loan out of default and could save a significant amount of money in the process. We would be very pleased to have you as a client and are looking forward to working with you to resolve this problem as quickly as possible.

Our application includes a checklist to walk you through the process and ensure your application is complete. It is important to fill out the paperwork completely and include recent copies of statements for the student loan creditors.

When filling out the service agreement, please fill in the following agreed upon terms:

a) $199 with application to initiate the fact finding portion of the services. Your payment will be processed electronically unless you check the “check enclosed” box and return the application with a check or money order.

b) $100 per month for 5 consecutive months starting within one month. Your monthly payment will be on that date.

c) Or, you can save $50 by paying $649 in full.

To expedite your service fax, or scan and email the application to us, so we can begin working on it right away. If not we recommend you use 2nd day priority mail with tracking or an overnight. This is too important to get lost in the mail!

When we receive your application, we will begin the preliminary work of verifying all the information regarding your student loan. As needed, we will also contact the current holder of your loan to notify them that we will be representing you to resolve payment of that loan. Sometimes good faith payments will be required while we are processing your new funding. We will be in contact with you as soon as we have established what you need to do. If you are currently making payments, do not stop until you talk to us about it and we can determine the best way to handle it. Do not contact your loan holder while in this process. If they contact you, tell them they must discuss the situation through your representative and give them our telephone number.

It is our goal to get your student loan out of default as quickly as possible. It is important that you follow all our instructions and make all the payments you are required to during this process. The final consolidation/refinancing paperwork will be completed as soon as we complete the verification process. Be sure to watch your email and mail during this process. Let me know immediately if you get any deadlines in writing.

Once again, congratulations for taking action in resolving your defaulted student loan. If you have any questions as we work on your loan, do not hesitate to call. For long distance calls, my number is 269-686-9701 ext.12 or toll free 888-244-2285 ext.12.


Mike Reed
Student Loan Specialist
Professional Student Loan Solutions, Inc.”

The client agreement stated good credit could be restored with their advance fee program. That is a bit problematic from my point of view since it may run into trouble with the Credit Repair Organizations Act.

Service Fees: We will debit your down payment electronically the business day following receipt of the application or on the date you specify in the services agreement. If so, check the appropriate box. Or, you may send a check or money order made out to “Professional Student Loan Solutions, Inc.” with the application. – Source

But then they make some odd comments about what is needed and it makes it sound as if they are asking about other debts as well. However, they may only be addressing student loan debts and calling those entities creditors.

Creditor Statements: Submit the most recent creditor statements and/or recent letters you have for each account. Be sure to include any correspondence that has deadlines.

Additional instructions: If you have made payment arrangements with your creditor(s), we recommend that you follow through on those promises. – Source

The client agreement says they only assist with federal student loans.

Consumers will need to complete a power of attorney form.

The do mention consumers can consolidate their own loans themselves but I only found this buried in the agreement.

Principal acknowledges that it is aware that consolidation and/or rehabilitation sources may be available to Principal without the use of Consultant’s services. However, Principal has determined that it is in its best interest to retain the services of Consultant to restructure Principal’s student loan(s) – Source

The agreement says they can send the client to collections.

If Principal fails to: (a) provide the necessary documentation to initiate and complete the restructuring of Principal’s student loan(s); (b) disclose all information needed for Consultant to provide its services; (c) cooperate with Consultant; (d) pay Consultant for its services as per this Agreement, Consultant reserves the right to terminate this Agreement and pursue collection activity to collect fees due. – Source

The refund policy does not protect consumers who are unhappy with service or change their mind.

Stop payments on checks or credit cards do not constitute a legal cancellation of this contract and will not eliminate any obligation to pay for services contracted to be performed. Once services have been rendered, there is no cancellation of services that have been provided or refund options for those services. – Source


Professional Student Loan Solutions, Inc.
257 Marshall Street, Suite 100
Allegan, MI 49010 – Source

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Additional Contact Information

Fax: (269)686-9702

Company Description

When founded in Chicago in 1991 as Debt Free, Inc. this company was at the forefront of a new era in the debt services industry with a spectrum of debt solutions. In 1995, the Defaulted Student Loan Program was created to help individuals with student loans issues when no other company existed to address these issues. – Source


Cyndi Reed (CEO) – Source

Company Information

A search of State of Michigan records could not locate any company registered to do business under the name Professional Student Loan Solutions.

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Programs to help with student loan default are available nationally in the United States and US Territories and are flexible to meet a variety of needs. Professional Student Loan Solutions provide their clients with choices in creating a plan that will work for them and always focuses on what is best for their goals. – Source



Interesting Points

Could not locate company as registered in the State of Michigan.



Student Loan Solutions - Help with Defaulted Student Loans (20130311)

Domain Information


Ownership currently hidden.

The last public disclosure of ownership was on December 29, 2011.

Cyndi Reed
257 Marshall St
Allegan, MI 49010


Ownership currently hidden.

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:

  1. The Ultimate Consumer Guide to Checking Out a Debt Relief Company Before You Sign On the Line
  2. 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


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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.

More Articles About Professional Student Loan Solutions


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