ED Magedson – Founder
Federal Student Loan Alliance202 Fashion Ln #207 Tustin CA 92780 Tustin, California USA
Federal Student Loan Alliance FSLA DO NOT ENROLL OR PAY ANY FEES TO THIS COMPANY-SCAM ALERT Tustin California
To all consumers with Student Loan Debt I beg of you not hire this company. I worked for this company for two months and never have in all of my fifty years seen such an unprofessional organization. I would also like to mention that I have never filed a complaint against a company before but this is by far the worst I've seen.
This company is charging upfront fees and a monthly service fee to process student loan consolidation for consumers with federal student loans. Agents at this firm are lying to consumers in regards to qualifications for programs and not disclosing the $29.00 monthly maintenence fee they charge. All of these programs are offered by the department of Education and the forms can be found online-
Federal Student Loan Alliance is charging various fees depending on what the consumer owes, which ranges from $495.00 to 795.00 and 1% of anything over 100,000.00. Per the Department of Education the work to consolidate is the same for any size loan balance. The agents dont tell you that you will pay aprox $319.00 a year directly to Federal Student Loan Alliance for them in most cases to do nothing. BUYER BEWARE.
One agent specifically is outwardly lying to clients about the program they qualify for and the new consolidated payment. When I brought this to the attention of the processor Kati, she had noticed and seen the same issues but would not address the non-compliance with either owner. I also requested to know why we were charging a monthy service fee for clients that didnt need our services after their consolidation was completed. BUYER BEWARE
This office has no compliance or oversight on what the consumer is being told. All they care about is making money and taking full advantage of the student loan debt crisis. Anyone who has hired this company I would strongly suggest that you get your money back and cancel. There are ethical companies, non-profits that are compliant and ethical.Because I spoke out about the issues regarding compliance I was let go the following week.
For all consumers please note do your homework and research and know you dont have to pay to get your loans consolidated and you dont have to pay for loan forgiveness either. STAY AWAY FROM THIS COMPANY !!! THEY ARE NOT HONEST !!
This report was posted on Ripoff Report on 11/26/2013 06:36 PM and is a permanent record located here: http://www.ripoffreport.com/reports/federal-student-loan-alliance/tustin-california-92780/federal-student-loan-alliance-fsla-do-not-enroll-or-pay-any-fees-to-this-company-scam-al-1102463. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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