A consumer just submitted a complaint about Student Loan Servicing Center and included a mailer they received. I wanted to review the mailer for you and show you all the items that raised my concern.
It’s worth discussing these items so you can be more aware of what marketing messages you may receive so you can evaluate them.
1. The mailer refers to new laws discounting federal student loans but fail to state what new law they claim offers these benefits. I am not aware of a new change that this would apply to.
2. Student Loan Servicing Center is the name of the company contacting the consumer and not a federal student loan qualified program. Qualified by whom?
3. Total forgiveness programs are not a new thing.
4. This is a marketing mailer to sell student loan assistance services. There is no time limit on receiving federal student loan benefits.
5. While the mailer says the benefits offered are “new” these programs have been around for a number of years through the Department of Education student loan rehabilitation program.
6. They provide no support or justification of the performance claim stated. There is no reason to not believe that is a fictional number. They also state there is a money back guarantee which would appear to indicate there is an advance fee.
7. The generically named company claims to be an “advocacy group” but the reality is they are most likely a marketing group and the person you would speak with is a salesperson. It would also be questionable if the company responsible for this mailer is truly working in a fiduciary capacity on behalf of the consumer.
8. The wording may confuse a consumer to think the people behind this mailer are somehow sanctioned by the U.S. Department of Education. This appears to be highly misleading.