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In July 2024, the Federal Trade Commission announced that it stopped the operators of a scheme that it says tricked financially strapped consumers seeking student loan relief into paying hundreds of dollars in junk fees. The operators often targeted Spanish-speaking consumers in Puerto Rico, pretended to be affiliated with the Department of Education and its loan servicers, and made false promises of low, permanently fixed monthly payments and loan forgiveness.
A federal court temporarily halted the scheme and froze its assets at the request of the FTC.
In May 2025, the FTC announced that the operators of the scam have agreed to be permanently banned from the debt relief industry and to turn over their assets to resolve allegations that they misled consumers.
In September 2025, the Federal Trade Commission announced that Chegg Inc. will be required to pay $7.5 million to settle FTC allegations that the education technology provider made it extremely difficult for consumers to cancel recurring subscriptions while also failing to honor consumers’ cancellation requests.
In December 2024, the Federal Trade Commission announced that it took action to stop a scheme that allegedly bilked millions of dollars out of consumers burdened with student loan debt by pretending to be affiliated with the U.S. Department of Education in violation of the FTC’s Impersonation Rule, collecting illegal advance fees, and making other deceptive claims.
The U.S. District Court for the District of Nevada entered a temporary restraining order on November 22, 2024 and a preliminary injunction against corporate defendant Superior Servicing on December 6, 2024.
The FTC filed an amended complaint adding corporate defendants Sunrise Solutions USA LLC, Alumni Advantage LLC, Student Processing Center Group LLC, SPCTWO LLC, Accredit LLC and individual defendants Eric Caldwell and David Hernandez.
In September 2025, the FTC announced that Caldwell and Hernandez will be permanently banned from the debt relief industry and will be required to turn over their assets to resolve FTC charges that they helped operate an illegal student loan debt-relief operation. Additionally, Caldwell will be banned from the telemarketing industry, and Hernandez will be prohibited from violating the Telemarketing Sales Rule.
In February 2026, a federal judge entered an order against Dennise Merdjanian, an operator of the scheme, that permanently banned her from the debt relief industry and telemarketing following a settlement with the FTC.
In June 2026, a federal judge entered a default order against corporate defendants Superior Servicing LLC, Sunrise Solutions USA LLC, Alumni Advantage LLC, Student Processing Center Group LLC, SPCTWO LLC and Accredit LLC. resolving litigation against the remaining defendants in the case.
The FTC alleges that Grand Canyon Education (GCE), Inc., Grand Canyon University (GCU) and Brian Mueller—the CEO of GCE and president of GCU—deceived prospective doctoral students about the cost and course requirements of its doctoral programs and about being a nonprofit, while also engaging in deceptive and abusive telemarketing practices. The FTC announced on August 15, 2025 it had voted to dismiss the case.
The Federal Trade Commission has stopped a pair of student loan debt relief schemes that it says bilked students out of approximately $12 million by using deceptive claims about repayment programs and loan forgiveness that did not exist. The agency also says the companies falsely claimed to be or be affiliated with the Department of Education and told students that the illegal payments the companies collected would count towards their loans.
After the FTC filed complaints seeking to end the deceptive practices, a federal court temporarily halted the two schemes and froze their assets.
In early October 2023, SL Finance and BCO Consulting were permanently banned from the debt relief industry and ordered to turn over their assets as part of a settlement with the Federal Trade Commission.
In July 2025, the FTC is sending a total of $743,230 in payments to consumers harmed by BCO Consulting.
The Federal Trade Commission has stopped a pair of student loan debt relief schemes that it says bilked students out of approximately $12 million by using deceptive claims about repayment programs and loan forgiveness that did not exist. The agency also says the companies falsely claimed to be or be affiliated with the Department of Education and told students that the illegal payments the companies collected would count towards their loans.
After the FTC filed complaints seeking to end the deceptive practices, a federal court temporarily halted the two schemes and froze their assets.
In early October 2023, SL finance and BCO Consulting were permanently banned from the debt relief industry and ordered to turn over their assets as part of a settlement with the Federal Trade Commission.
In July 2025, the FTC issued more than $356,900 in payments to consumers harmed by SL Finance.
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