Student Aid Institute, Steven Lamont

The Consumer Financial Protection Bureau (CFPB) took action to halt a student loan debt relief scam that illegally tricked borrowers into paying fees for federal loan benefits and misrepresented to consumers that it was affiliated with the Department of Education. The CFPB is ordering the student debt relief company, Student Aid Institute, Inc., and its chief executive officer, Steven Lamont, to pay a penalty, halt debt relief services, and stop charging affected customers. The CFPB is also permanently barring the company and Lamont from the debt relief industry.

Related document

Consent order

Stipulation

Press release

CFPB Halts Student Loan Debt Relief Scam