Topline

The Federal Trade Commission has reached a settlement banning Dennise Merdjanian, an operator of Nevada-based Superior Servicing, from the debt relief and telemarketing industries for life after the agency says she cheated student loan borrowers out of roughly $46 million by impersonating the Department of Education.

Student loan borrowers and advocates gather for the People's Rally To Cancel Student Debt in 2023.

Getty Images for People's Rally to Cancel Student Debt

Key Facts

Merdjanian was accused of posing as a Department of Ed employee and falsely promising those with student loans that she and her company could get them lower monthly payments or have their loans forgiven.

Instead, she and other defendants charged people illegal upfront fees for debt relief that either didn't exist or wasn't delivered.

The settlement, announced Tuesday by the FTC, imposes a monetary judgment of more than $45.9 million, which will be partially suspended because of Merdjanian's inability to pay.

If she is later found to have misrepresented her finances, the full amount will immediately become due.

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.

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.

further reading

ForbesEducation Department Must Wipe Out Student Loans For 500,000 Borrowers Under Settlement, Says CourtBy Adam S. MinskyForbes5 Major Rule Changes For Student Loans Are Now In Effect, Here’s What They DoBy Adam S. Minsky