Company Information

Get to know American Student Financial Group, Inc (ASFG)

American Student Financial Group was a for-profit company that marketed student loan consolidation and debt relief services to consumers across the United States. The company claimed to help borrowers enroll in federal loan forgiveness or payment reduction programs by preparing and submitting application documents. However, in March 2016, the U.S. Federal Trade Commission (FTC) and the State of Florida charged ASFG with widespread deception. The regulators alleged that the company charged consumers illegal upfront fees of up to $1,200, falsely promised to substantially reduce or eliminate their student loan debt, and misrepresented an affiliation with the U.S. Department of Education. A federal court subsequently halted the operation, and the defendants were permanently banned from the debt relief industry.

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Financial Financial Advisement

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American Student Financial Group, Inc (ASFG)

United States

Founded in

2003 (23 Years)

Founded

Last online: No recent activity

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FTD LIMITED

(505 reviews)

British Virgin Islands

2017

(9 years)

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BVI FSC

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This company is currently Unproved.

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License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.