Key background
The FTC first sued Superior Servicing and Merdjanian in November 2024, alleging she was lying about being affiliated with the Department of Education and falsely promising student loan forgiveness. A federal court froze the scheme’s assets and temporarily halted its operations at the FTC’s request, and an amended complaint filed in early 2025 added co-defendants Eric Caldwell and David Hernandez. In September 2025, the U.S. District Court in Nevada permanently banned Caldwell and Hernandez from the debt relief industry. Merdjanian’s settlement, along with a default order against the corporate defendants, closes out the remaining litigation.
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BIG NUMBER
9.5 million. That’s how many federal student loan borrowers, roughly 1 in 5, are in default, or over nine months behind on their payments, according to CBS News. That number jumped from 5.3 million after a pandemic-era payment pause fully expired in late 2024, and those people are ripe for targeting by student loan debt relief scammers. It’s estimated such scams can steal $5 billion from Americans per year, and the FTC has settled with scammers accusing of stealing roughly $60 million between since May of last year.
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further reading
ForbesEducation Department Must Wipe Out Student Loans For 500,000 Borrowers Under Settlement, Says CourtBy Adam S. Minsky
Forbes5 Major Rule Changes For Student Loans Are Now In Effect, Here’s What They DoBy Adam S. Minsky