First Financial  
Merchant Services for Student Loan Businesses

Merchant Services for Student Loan Businesses

A+ Rated First Financial Merchant Accounts for Student Loan Consolidation Companies

As a leading U.S. provider of high-risk merchant services, First Financial is committed to supporting student loan consolidation companies. Currently, 71% of all graduating students carry debt, nearly double 1993 levels. A dire need exists in the American economy for the debt relief student loan consolidation companies provide.[i] We’re proud to help you accept credit and debit cards so you can increase your business stability and reach. Click this button to get your merchant services account approval today!

Request a Merchant Account Now   
A+ Rated Better Business Bureau

Questions Call: 1 (800) 950- 0212

Our Merchant Accounts Will Grow Your Business and Drive Your Success

Despite your business’s categorization as high-risk, you can keep your costs under control and be successful in the student debt consolidation space. Scores of companies start up and thrive yearly.

First Financial’s high-risk merchant accounts provide all the safety, support and service low risk accounts do. Every high-risk merchant account comes with:

  • An easy application process and quick approval. In just a few days, you’ll begin taking credit, debit and gift card payments.
  • Competitive fees and rates. Your long-term profitability is our goal.
  • Banking-level security. First Financial ensures the strongest encryption available, keeping your information your client’s information and safe. The U.S. Treasury Department, needing to investigate criminals from time to time, won’t allow anything stronger.
  • An easy mobile payment app. Your young, digitally-addicted customers will want to use their smartphones to handle their payments.
  • Plug-and-play software and hardware. Sophisticated technology doing the work behind the scenes makes set-up and usage easy.  
  • Continual hardware and software upgrades. We notify you of regular updates and even step you through the upgrade process.
  • 24/7 support.  Got a glitch? Confused about a process? Give us a call and one of our friendly customer service representatives will talk you though it.
  • Business form flexibility. We make it possible for you to get paid in whatever style works. First Financial partners process forms originating from mobile, ecommerce, retail, and MOTO accounts.
  • Payment type flexibility. Use software taht processes ACH, echecks, or Demand Draft for check payment.
  • Multiple merchant IDS (MIDs). We’ll provide as many separate accounts and IDs as you need.

High Risk Credit Card Processing Gets Your Payments to You Faster

First, they tend to spend their cash quickly, so getting the credit card company to shoulder some of the responsibility ensures you’ll be paid. Secondly, they can forget to pay bills more often than their older counterparts. Automatic credit card payments guarantee the reliable revenue stream to keep you in business long-term.

First Financial Can Help Terminated and Rejected Student Debt Relief Companies

The reluctance of banks to provide merchant accounts to student loan consolidation companies stems from the higher than average incidence of fraud in the industry. In the past ten years, the National Consumer Law Center has been investigating student loan consolidation companies for violating consumer protection laws. These violations include:

  • not including a right to three-day cancellation in the contract
  • demanding payment before initiating services
  • false advertising
  • requesting power of attorney from the applicant
  • passing government programs off as their own
  • not disclosing fees and pushing inaccurate fees
  • providing inaccurate information about consolidation, garnishment, rehabilitation, bankruptcy and more, deliberately or not[ii]

As bad as these sound, it gets worse. A few student debt consolidation companies have turned their businesses into full-blown scams. Unfortunately, shady and illegal practices by a few affect the entire industry.

First Financial knows it’s only a few student debt relief companies that have engaged in deceptive practices. Every day, we review applicants dedicated to reducing the monthly payments of new graduates at the low-earning end of their careers. These businesses also aim to shorten loan terms and create payment processes that ensure young Americans get these bills paid, preserving their credit. The faster they’re out of debt, the better the economy gets for all of us.

Apply for Your Merchant Account Today!

Open the doors to your student loan consolidation company the minute your merchant account is approved. Once you pass the first review, we’ll ask you to scan and upload a few documents. Feel free to follow us on our Facebook and Twitter pages to understand the best ways to optimize your merchant account!

[i] Sparshott, Jeffrey.Congratulations Class of 2015: You’re the Most Indebted Ever for Now.”  Wall Street Journal.  8 May 2015

[ii] “Searching for Relief: Desperate Borrowers and the Growing Student Loan “Debt Relief” Industry.”  National Consumer Law Center. 19 June 2013.

First Financial

First Financial ® Corporate Headquarters 2850 Womble Road Suite 100-604 San Diego, CA 92106

Client Service Center: Main: 1-800-315-7791 Fax: 1-800-215-0217 (Monday–Friday 5:00am–6:00pm Pacific or 8:00am–9:00pm Eastern)

Merchant Services / High Risk Merchant Accounts: 1-800-950-0212 Fax: 1-800-215-0217


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