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Educational Debt Cancellation Foundation, Inc.

United States

Founded in

2015 (11 Years)

Founded

Last online: No recent activity

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OVERALL SCORE

Others

--/10

Reviews

--/90

0 reviews

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Regulated

Recommended

(71 reviews)

Cyprus

2009

(17 years)

Security Information :

CySEC

FSCA

DFSA

Security Information

Warning

This company is currently Unproved.

Please be cautious of the potential risks!

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.

Company Information

Get to know Educational Debt Cancellation Foundation, Inc.

Company Information

Get to know Educational Debt Cancellation Foundation, Inc.

Educational Debt Cancellation Foundation, Inc. was a corporate name used in a larger student loan debt relief scheme. The company, along with its affiliates like Student Debt Relief Group, LLC, was sued by the U.S. Federal Trade Commission (FTC) in 2020. They were found to have collected over $31 million in illegal upfront fees from consumers by falsely promising to lower or eliminate their student loan debt, often misrepresenting an affiliation with the U.S. Department of Education. As a result of the FTC's legal action, the operation was permanently shut down by a court order, and the principals were banned from the debt relief industry. The company's corporate status with the California Secretary of State is listed as "FTB Suspended."

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