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SCAM. SCAM. SCAM.
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Student Loan Exchange is a SCAM. They are NOT authorized to repay your student loans. They are NOT approved by the U.S. Dept. of Education. They are NOT accredited by the BBB. The only 'service' they actually provide is accessing your social security #, FSA ID, and student loan account to process consolidation paperwork that is actually FREE through your loan provider. Student Loan Exchange takes the money that they tell you is for your student loans and pockets ALL of it (for their consulting fee of the FREE paperwork they filed for you) -- you still owe ALL they money you owed on your student loans when you first spoke to them. Oh and they now have your bank card #, your SS#, and your loan account information. It's a complete SCAM. If you've been impacted, contact your loan provider, your bank, the Federal Trade Commission and your state's Attorney General's office ASAP.
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