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Sallie Mae Bank
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3.2 96 Reviews

Sallie Mae Bank Complaints Summary

52 Resolved
44 Unresolved
Our verdict: While Sallie Mae Bank has an above-average resolution rate, there’s room for improvement. Investigate common issues reported by customers and understand how they were resolved. Be prepared to follow up on your queries if needed, and keep detailed records of all interactions.
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Sallie Mae Bank reviews & complaints 96

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Sallie Mae Bank Gouging and Fees!

I went to make my Sept 2010 payment online, which confirmed and went through. Later they sent me a letter stating I had insufficient funds, which was not true. I sent them bank statments showing I had more than enough in my account. Sallie Mae insists I pay a late fee and a processing fee. I will not pay my account until they drop these extra charges on their error. Now they put it on my credit report. Anyone having the same problems? I am trying to start a class action lawsuit. Contact me at [protected]@yahoo.com. They will not drop the extra charges on their error.

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Sallie Mae Bank Lying during collection conversation

While on the phone with a Sallie Mae Representative about lowering payments on defaulted student loan (which I requested deferment paper on several occasions) he told me that Sallie Mae was the government. That seemed incorrect so I went directly to the Sallie Mae website and found this statement below. They used this tatic to attempt to bully me into paying more than I could afford.

"While Sallie Mae was originally created in 1972 as a government-sponsored entity, the company began privatizing its operations in 1997, a process it completed at the end of 2004 when the company terminated its ties to the federal government. Today, the company is a publicly held, private sector company, governed by a board elected by shareholders. SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America."

https://www1.salliemae.com/about/

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wishlightforyou
Chicago, US
Jan 23, 2011 1:29 am EST
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However, Fdcpa arguements can be made in small claims court and do not have to be made only in federal cases. A contract dispute can be argued in federal court or just about any venue.

First mica you assert a judge can not "legally" void a contract unless certain circumstances apply. ( one assertion which is incorrect. Initial intent to defraud, is only one of MANY reasons a judge can declare a contract void. Acting dishonestly in the process of performance is the one which may apply here.

Second you assert misrepresentation by a collector would fall under the guidelines of fdcpa leaving only the collector and agency liable. This assertition (#2) is also incorrect. The original creditor is in fact responsible should they have a contract for the collector to act as their agent.

There are also a few other minor comments in your post which are not 100% correct but I have already proven your comment of only one assertion incorrect...which is all I need to do to prove you are full of it.

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wishlightforyou
Chicago, US
Jan 22, 2011 11:14 pm EST
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Many incorrect assertions in your argument Mica. A contract can be ruled void whether the intent was "initial" or subsequent or even by the actions of a party acting as the agent for either party. Fdcpa does not encompass the only remedy for a party to a suit. One could argue under various UCC code violations pertinent to the specific state it is argued in. Futhermore, a federal suit is a sure way to make many creditors and collectors beg for a settlement. The original creditor is in fact very liable for the actions of a party acting as their agent.

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wishlightforyou
Chicago, US
Jan 22, 2011 10:43 pm EST
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If it they are acting as their agent and they have a contractual agreement to act as such then yes it would have bearing in a case heard in court. Judges are leaning more and more on the side of the individual now that fraud is rampant by these collectors and robo signers.

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wishlightforyou
Chicago, US
Jan 22, 2011 10:27 pm EST
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Once again psuscum you seem to think that fraud within a contractual agreement does not in any way release the other party. I have many years of contract law ( all A's top 20 school ) and everytime you spout off your views on one side being still liable you never seem to consider in your ramblings that deliberate fraud within an agreement can easily nullify that agreement. Strange you never write about that. WAIT! you do not have any contract law background do you? You sick demented clown.

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Sallie Mae Bank reps lying about federal guidelines

Actual phone call to make January 2011 student loan payment on 12 January 2011. Ilene rep # C41368 gave me an amount due which included the not yet due February payment. The rep Ilene #C41368 informed me that federal guidelines allowed her to demand payment for not yet due months and collect funds for the February 2011 payment which again is not yet due. When I questioned her further she insisted that federal guidelines allowed her to demand payment. I asked her for a copy of the federal guidelines she was referring to. She said she'd be more than happy to supply me with these guidelines. To date I have not received any copy of these "federal guidelines" which allows Sallie Mae to demand payments for months not yet due. This was not a misunderstanding. This rep knew that she was making a demand (not a request) for a payment of a month that was not yet due and further, this rep was aware that she was lying about this demand being acceptable under "federal guidelines". Now let me be clear so there is no misunderstanding, this rep did not ask if I'd like to pay February's payment while on the phone which would have been an acceptable request. This rep demanded payment for February to be included in my January payment. Sallie Mae this is an completely unacceptable way to do business. Your representatives should not dare to lie then use Federal Guidelines as an excuse to cover her lie with regard to making payments or even hint that Federal Guidelines allow you to demand pre-payment of months not yet due. The unethical practice of this rep is a direct reflection on your business practices.

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Sallie Mae Bank Co-signer Release Form

So I graduated college back in June 29, 2007 and have been looking for a career ever since. I have been paying on my Sallie Mae loan for a little over 2 years now and yet I still owe $79, 000 even though I borrowed $80, 000 I cant believe it has not gone down even though my payments were $800 a month the first year and $550 a month this year. Back on September 14, 2010 I called Sallie Mae to get a co-signer release form application so that way my parents could get their names off my loan. First of all it took Sallie Mae 2 weeks just to send me the application and its only 5 questions. I faxed them the completed application on September 26, 2010. I called them On Oct 4, 2010 to ask them what the status was and the lady told me it would be another 2 weeks to do a background check on me which was a complete lie because it does not take that long to do a background check. So on Oct 27, 2010 I called them again to ask the status and the lady said it would be another 30 days. I asked why and the lady just kept repeating herself of how it will take 30 days. Then on December 6, 2010 my dad called to find out and they said the same crap another 30 days. The next time my dad called he finally got a hold of a supervisor and they said it should have only taken 4 days.

I dont see how Sallie Mae can get away with false promises, missinformation, and their sales people have no clue whats going on. Not to mention if your unemployed like me and have been busting your ### to find a job the loan payments each month are so ridiculously high that there is no way you could ever live on your on and have a normal life. Dont ever get a Sallie Mae loan its just a scam!

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Jon Kanders
Woodmere, US
Jun 04, 2012 4:08 pm EDT

"I have been paying on my Sallie Mae loan for a little over 2 years now and yet I still owe $79, 000 even though I borrowed $80, 000 I cant believe it has not gone down even though my payments were $800 a month the first year and $550 a month this year."

Do you understand how interest works? If you borrowed 80k, it likely accrued interest while you were in school. If you find fault in their calculations, I'd point that out to them, but somehow I don't think they made any error there.

Why would SM release your parents as cosigners when you have no job nearly 3 years after graduating and present a high default risk? If I were a creditor I would not release your parents either.

" the lady told me it would be another 2 weeks to do a background check on me which was a complete lie because it does not take that long to do a background check."

If you were SM's only customer, you're right, it wouldn't take 2 weeks. But you are one of MILLIONS of borrowers they deal with. The background check does not take two weeks, GETTING to your bg check takes 2 weeks.

SM isn't a scam, it's a lender, essentially a bank. You borrowed close to a hundred grand from them. They enabled your education. You have to pay back the money that you took, with interest, as you agreed. They have millions of students they lent to and need to get paid back so that they can bankroll other students.

SM is also a large corporation and they have bureaucracy you have to cut through, which can be frustrating. But you seem to be blaming SM for trying to get back the money you borrowed. I don't see what you're complaining about.

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Boomer 12
, US
Jul 18, 2011 10:02 pm EDT

I agree with everything you said about Sallie Mae. They are like loan sharks. Students stay away from Sallie Mae if you can. Once you sign with them your life is over. They will suffocate you. I am a cosigner on my granddaughters loan and I have excellent credit, When I went to get a line of credit from my bank they said I had too much debt compared to income due to the student loan. I would love to get a release from Sallie Mae since she graduated in 2007 but you know they wont make it easy.

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Benjoh
Waynesboro, US
Dec 18, 2010 11:39 pm EST
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You need to which your payments to Mohela. If you pay online you can get your payment % lower and also they maybe able to help you get your payments lowered. But whoever you are paying to is taking the interest first. That is not how it is suppose to be. But anyway, consider this: I have a student loan and it has taken me 10 years to pay down to $800. That was out of $3500.00 You also may want to pay your $800 at the first of the month then send in like $150.00 extra mid month if you can afford it. The $150.00 would have to go on your principal.

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Sallie Mae Bank Loan payoff

Back in Febraury of 2005 I went back to school full-tim to re-train at Lake College in Redding, CA. I took out one federal loan and the school said I still needed $4800 more. They recommeded I go through Sallie Mae. I had never applied for school loans before so I trusted what they recommeded to me so that I could start school right away. The loan for Sallie Mae was for $4800. I was told I didn't have to start paying it back until I graduated which was August of 2005. I have been paying on this loan for almost four years and the interest rate is 5.75%. I have now paid over $4000 and they are telling me that I still owe them over $3, 000. I asked them to send me an "Amorization Schedule" and they said they don't do amorization schdules. They refuse to give me anything that shows me how they can justify this balance. HELP. This is highway robbery!
Linda Jenkins

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Sallie Mae Bank Company is in FEAR

The supervisor in Sallie Mae: Allen employee #C52057, Chris #C36515, Richy #C36013, and others are in FEAR to speak to the Head Company or management regarding issues within the company regarding mishandling of my account. They conduct wire fraud, miscommunication, play games which I have all documentation to prove it. The company has separate division and the supervisor said he is not able to contact anyone in the company. The people in account receivable department are not handling my account correctly and there is no way anyone can contact that department. This is becoming a very dangerous game to play with me, with my account and emotions. I have spoke to 6 different supervisors and they all express FEAR and they do not transfer me to the department that is conducting fraudulent activity or the CEO or the lawyers of the company. I cannot relate or trust this company as whole.

If I was in a war I would not want to be in the field without air unit or a general. I would lose and die. That’s how they make me feel. I need my man to win the war and if I need help I should be able to contact my general and use air support. Neither are available... there are deadlines and battle to conquer. I feel empty without the general and air unit and worse is when my unit is in fear. This company is not available at all. I would not have signed up if I knew this was going happen. There are a lot of people that are in the same position that I am. It’s a ghost company. They are all in FEAR to raise issues so they do not look bad. Fear cannot be part of war. This is unacceptable.

Ask yourself would u like to be in a war when your man is in fear and there is no general and idiots running the air support?

The war is referring to the debt. I cannot pay this debt when there is misleading of my account, when the sup. has a fear to raise ill issues within the company, when the sup. is afraid to speak the chain of command and when account receivable screwing my account.

I strongly believe this is done on purpose so I will be in debt and those that control debt will control people. Again this is going into a very dangerous game that I wish not to play.

If you can be a big brother ( presidentObama. FBI, FTC, DA) and help I would appreciate. I need real man/woman in my unit, a real general (management) and a real air support (account receivable to handle my payments correctly).

This company is not real they are full of fear!

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Derek Becker
Ballston Spa, US
Dec 31, 2010 1:24 pm EST

This is one of the worst companies for customer service since Dell. If you try to get online, their site is ALWAYS screwed up. It is VERY insecure and a lot of the information is leaked. If you call, half of the people do not speak English and almost all are a nightmare to work with. This is one of the outsourced companies that basis their future projections by the difference in complaints to income. The are making plenty of money with their uneducated crew so we are the ones who pay.

Do what ever you can to get a loan with someone else, or you will be BURNED.

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gpepe79
, US
Oct 26, 2011 7:15 pm EDT

Hello everyone that has been screwed over by Sallie Mae . As we all know, Sallie Mae is an evil company and I have been doing everything to make sure that all of my friends no longer have Sallie Mae as a holder of their loan. What you need to do is see if you are eligible for loan consolidation through the William D. Ford Direct Loans, which is basically the federal government. Here is the website: https://www.dl.ed.gov/borrower/BorrowerWelcomePage.jsp
There is an online form to fill out and it takes about 30 days to go through (at least that what it took for me). Once it goes through, no more Sallie Mae and them hanging up on you. I hope this helps many of you. If not, there are plenty of private loan consolidation companies out there that are better than Sallie Mae, you just have to do some research. By the way, Sallie Mae is not run by the government, it is a private company that guarantees student loans through financial aid. Basically the government couldn't afford to give this much money out in loans so they opened it up to private companies allowing more money to be lent out and giving many of us an opportunity to attend college. Unfortunately, Sallie Mae banks on the fact that many of us are/were not up to speed on how financial aid loans work so they are screwing over a lot of people. Anyway, I hope this information helps some if not all of you. And may you all be free of Sallie Mae some day. :)

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Supermacho
Clinton, US
Feb 13, 2011 3:07 am EST

Sallie Mae is a total rip off. If you're even one day late they charge you for the late fee. I have about 50, 000 in loans with them that I know regret ever taking out with them. They refuse to understand my situation as I am not employed right now but they still don't care about that. They only care about getting your money and refuse to help you out. Every time I call customer service I get someone who I can barely understand. Then I'm told 3 different stories by 3 different reps as to what forms I need to fill out for unemployment. This company is the WORST lending company that I've ever dealt with. They make it impossible to never pay back your loan with them.

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Lano
, US
Jul 05, 2011 9:34 am EDT

This was the WORST customer service experience I have ever come across. I was looking to apply for a student loan and decided to call to do the application because I had a few questions. The first lady (unfortunately I she never provided her name) was rude and kept cutting me off every time I tried to ask a question. Halfway through the application I was fed up with it so I politely asked her if another representative could finish my application. She got very quiet and asked, "Why?" I simply told her I would just prefer to finish up my application with another representative|. She then got very quiet and HUNG UP ON ME! I was furious! I then called back to try and put in a complaint and finish my application and got a gentleman on the line". He was nice, however I could clearly tell he kept talking to someone else in his office". He would mute his line for 10 seconds at a time and when he would un-mute it, I could hear them laughing/. I cannot be certain of course, but I have a feeling he was laughing about me with the previous representative who hung up on me'. He ran me around in circles with the application and kept asking me the same questions over and over and over!. I was so fed up with it I told him I would do it later.. Based on this experience though, I will never do business with Sallie Mae, EVER.

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Patt777
Woodward, US
Apr 11, 2011 5:14 pm EDT
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Seven times since Dec of 2017 I have submited the proper paper work to discharge my loan due to the fact that I have become disabled. I have taken to send it by mail in a way to have them sign for it and have received the card back that says that they have received it yet have been told repeatedly that either did not get it or it is not filled out corectly, yet I responded and filled it out as was directed by them. In January I requested that I receive further deferral for hardship, even though I have the receipt from the U.S. Post Office. I will now have to reapply for deferment even though the corrected medical form was attached to the deferment. They acknowledge that they now have the medical form and are processing it, they deny having the deferment form. I will now have to submit another form. The processing is done in another country on the grounds that Americans won't do that kind of work. I know many Americans who would be more than willing to do the work. Sallie Mae is regulated by our govenment and should not be able to outsource the work, especially in this time of economic heardship. Half the time you get someone who does not understand English well enough to solve the problem. Really frustrated in Oklahoma. Patt777

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swin24
Los Angeles, US
Nov 10, 2010 9:56 pm EST

So, my wife has several small student loans from Sallie Mae because her school decided to take a new loan out every quarter. No biggie... right... wrong. Now my wife has been out of school for over a year now and we are still trying to get those loans consolidated. We were first told about three months ago that they would be start offering consolidation again in September. We called in September. We were then told to call back in two weeks. We called back and then they told us to call back in middle October. So we called in October and they said call back in early November. After much frustration, we decided to call one last time but this time they were officially offering consolidation. Sounds great... WRONG... they decided to inform us now after four phone calls that they are only offering consolidation to people who attend state schools and not private schools (which was what my wife attended). Now instead of getting relief from 17 student loans totaling 900$ a month we are left with no help what-so-ever. Thanks Sallie Mae!

For all those who have Sallie Mae loans they are offering student consolidation to anyone who went to a state school. For everyone else, we are being discriminated.

Oh and one last thing Sallie Mae costumer service decided to inform us by accident that they are not advertising their so-called consolidation. So if you want to know, you will have to ask.

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wluster
Albany, US
Feb 05, 2013 4:33 pm EST

Nothing is being done to stop this company from its fraudulent terms. They play games with you and continue to increase your payments so that you will forever be in debt to them. I placed my loans in deferment for 10 years because I was still in school. When I started to pay the loans off they had accumulated so much interests. I have now being paying on the loans for 10 years. They can not give me the expiration date, meaning when the loans will be paid in full. They have given me payments as high as $550.00. None of the payments I am making is going towards the principal of the loan. Sallie Mae plays games and sometimes refuses to pick up the phone. I believe somehow they have your account tagged through the computer. My payments were changed 3 different times without authorization. Each time the payments were for higher amounts. I sent Sallie Mae a letter explaining to them the amount I could pay them and each time they intentionally sent me a higher pay. I have figured out that this company is fraudulent and I encourage anyone not to get involved with them. They are ruining folks lives by placing high interests rates on them and never allowing them to pay their loans off. The cost of college for me was around $18, 000. Now I owe them nearly $60, 000. I do not understand how they can continue accumulating interest on you every month. I was explained that the interest rate changes. However, my loan states that I have a fixed rate with 8% interest. My mortgage is a fixed rate. I know the pay off date and the amount that I will pay monthly. My car note was 60 months. I know when the pay off date is and I know how much interest I am paying. The purpose of this company is to manipulate customers. I feel like they are punishing the customers that are paying for those that can not pay their loans off. What is sad to me is the fact that nothing is being done about this company. When I ask to speak to a supervisor they give me the same Chinese speaking person to talk to who acts like he can not understand plain English. Often times I feel like they do not wish to come to a reasonable solution. When you get off the phone with them three days later you check your account and you will find that they have placed a much larger payment on your loan. It seems like they're doing this on purpose. I have yet to speak to a person that can speak English to me clearly, an American. It appears that their are foreigners operating this company and they could care less about how things are done in America. Their plans are to hurt people and impair them by making sure they never get out of debt. What is sad to me is the fact that nothing is being done. The $18, 000 loan I borrowed has been paid and then some. I will probably pay my mortgage off before I finish paying this company. Their goal is to kill, steal, and destroy. They are also incompetent. How on earth can you have such a huge responsibility and can not give people a direct answer on anything. Sallie Mae was open on Monday, February 4, 2017; however, their recording stated that they were closed. It then stated that my wait time would be 3 hours. They gave me an option of leaving my telephone number so they could call me back. When they called me back I was on the line listening to music for nearly 20 minutes, then suddenly the phone hung up. This company is brushing folks off deliberately simply because no one has investigated the matter and they can get away with doing it. I have been paying this company nearly $300.00 per month under what they call Income Based Payments. After my twelve months ended they sent me another payment for $441.00. They have sent me payments for over $500.00 a month. My car payment doesn't even cost that much. I can't understand why it isn't set up where you pay the same payments until the loan is paid in full. It is set up for failure. This is why they say they will accept loan forgiveness after 20 years. By then your life will be ruined and you will have given them your life savings. Please Help! President Obama, FBI, or anyone who investigates these type cases and for all those who have been affected by this I promise you that if no one else helps us GOD WILL so start praying for victory and that this company is brought down to its lowest state, without nothing.

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NicP74
, US
Dec 04, 2009 8:26 am EST

They called me several times for a loan that I co-signed on. They made several attempts and threatened me that they were not receiving any payments. I found that quite funny, because the loan I co-signed on was my sister's, and she had been sending them a check every month. Furthermore, the check was going to Sallie Mae and it was being deposited! Yet they called me to tell me they had not received any payment and were threatening to put my loan in forebearance and screw my credit. What's worst is that I clarified the whole situation with one person, and another person from Sallie Mae called me telling me that these things go from "one department to another" and this time it was in his department and he saw the last payment was made, and he saw that we had worked out a payment plan, but he needed the payment to be setup with him too! What kind of nonsense is this!? Its like the left hand doesn't know what the right hand is doing. They need to get it together, and stop claiming they are not receiving payments, when they are actually depositing our hard earned checks.

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Princess2002
Austin, US
Aug 08, 2011 5:46 pm EDT

I have been dealing with Sallie Mae for over 5yrs on a student loan from TCA in Austin. They demanded me to pay $500 a month for my loan, but a chief graduating from that school starts from the bottom getting paid $6-$7 a hour, how do they expect to get $500 a month? I tried working to an agreement with them to pay my loan back, but they woud not take a payment less than that. They are a total rip off, my interest itself is almost as much as the loan. They are not willing to work with ppl...and this is an education loan...and now I cant go back to school because of them being on my credit.

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LedI65
, US
Nov 14, 2009 3:53 am EST

This is a true story based on my experience, and all statements reflect my direct experience or opinion.

Five years ago, due to an illness, I had trouble with a student loan and it was referred to Sallie Mae. A representative told me that if I was able to make payments on time for a year, they would be able to transfer the loan -- and that if I did this, I would regain the ability to receive student loans in the future and that the negative item on my credit report would be erased.

I busted ### and dug deep, and I was able to financially dig my way out and make the on-time payments, and the loan was transferred and is current. It was very hard, but I did everything they said to do, for them things went perfectly.

When I pulled my credit report recently, the negative entry was still there. I wrote Sallie Mae and they told me to buzz off, in so many words.

Sallie Mae lied. I understand lying to collect a debt, it's done every hour of every day. But when people find out you're full of it, don't be surprised when you're called out.

If you are a person with a student loan, and you get into financial trouble, be warned by my experience: Sallie Mae will make deals they have no intention of honoring. Pay your student loans (obviously), but if you are in financial trouble make sure you take into account Sallie Mae's dishonesty when prioritizing how you're going to get out of debt. In other words, put the money where it will do the most good first, because Sallie Mae won't do any good for you.

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Sallie Mae Bank Credit Fraud & Harassment

Loan Was Fraudulently Taken Out Using My Social Security Number & When Reported to Sallie Mae After Much Harassment They Simply Stated for Me to Send Them a Police Report & They Would Cease This Harassment.

Police Report & All Necessary Documents Where Sent to Sallie Mae Only to Immediately Receive a Generic Response By Mail Stating
That I Was Still Responsible, Giving Ever Excuse in the Book For Why They Want to Continue to Hold Me Responsible & So On, Just Continually Calling & Harassing Me on This Matter.

Using All Kinds of Collection Agencies That Well Let's Just Say Where Less Than Kind & Professional in This Matter, Calling Several Times a Day Back to Back, Threatening Me ...
Waking My Children & Just Ruining Our Whole Quality of Life, What to Speak of Using Obscenities & Just Unheard of Collection Methods Even After I Made Them Aware of My Case & the Fraud Complaint, Police Report & So On.

Now, I Did However Take Out a Sallie Mae Student Loan in 1993 That Was Paid Off in Full Ages Ago, and This is Also Reflected in My Credit Report, and There is No Other Bad Mark What So Ever On My Credit Report Except for That of This Fraudulent Claim Made By Sallie Mae.

Now I Told Them That I Am On Social Security Disability and Have 2 Children to Feed, and That They Must Cease This Constant Harassment Over This Loan That I Never Signed For.
But Yet They Continually Harass Me ...
And Have No Valid Reason for This, and I Have Provided Them With All the Necessary Proof, as Well as the Fact That I Never Ever Physically Signed for Anything, and That They Do Not Have My Signature.
Now They Claim That They Do & Wanna Argue This with Me and So I Told Them Then, Take Me to Court & Prove It Then, But Stop Harassing Me & My Kids Over It, as They Don't Have My Signature & Whatever They Do Have is a Fake & I Can Prove It.
But They Can Not Be Bothered with That & Just Continue to Harass Us Over & Over.

I Even Changed My Phone Number & Got an Unlisted Number, And Yet They Somehow Have Obtained My New Number as Well and Continue Now to Not Only Harass Me Over This But Are Now Calling My Parents as Well, So They Must Have Just Got Access to Everyones Phone Number with the Same Last Name & Just Started Calling & Harassing Them All Looking for Me.

This is Just Insane & I Can Only But Suggest That Nobody Do Business with Sallie Mae, as I Know I Never Ever Will.

Bottom Line is Somehow These People ...
And This Harassment Must Be Stopped !

Thank You !

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Sallie Mae Bank Login Issues

On August 27, 2010 I received an email saying that Sallie Mae would be consolidating their user IDs to make it "easier" for people to login. However, since that change, I have yet to gain access to their website. I have called Sallie Mae for the past two days asking when the problem would be resolved but every time I get an incompetent customer service rep who has no idea how to help me. They give me generic answers like "Let's reset your user ID or "Change your password" but to no avail, I still receive the same message stating "Error - We are unable to process your request at this time. Sorry for the inconvenience."

I mean for goodness sakes, I just want to login. Is anyone else having the same login issue? If so, have you contacted Sallie Mae about the problem? They just keep telling me to try back again later in the night. It is ridiculous! Feel free to comment back if anyone else has the same login problem...Thanks!

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DantheMan21
Beavercreek, US
Oct 01, 2012 7:18 pm EDT
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I am co- signer on my son's loan. I used to be able to log in and add to the principle on his loan up to about two years ago. I started to have the same log in problems and after spending wasted time on numerous calls to customer service, I sort of gave up. About a month and a half ago, I tried again to get the problem fixed. All I get is the run around and they reset my password to no avail. I have tried to talk to a supervisor but there is never one available. I truely believe this is a tactic so the loan will not get paid off early and my son's $40, 000.00 loan will not be paid off until he is 80! As a matter-of-fact, it has only gone down about $1000.00 in 10 years. I think we all should contact our Congressman for help.

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greg(i)n
Phoenix, US
Oct 04, 2010 12:14 pm EDT
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Yes I'm having the same issue at about the same time frame. I am still unable to access my account to make a payment. Since i receive no paper bills in the mail this is my only way of paying my loan easily. They have sold my loan to the department of education so I can not send a check to them. I was able to make a payment to them over the phone after being on the line for 5 minutes and they did give me a different address to send my payment to but I don't trust sending checks in the mail with no conformation of payments received. It seems as though they are setting people up to default on their loans by making it very difficult to make payments.

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Sallie Mae Bank unsubstantiated late fees

I have student loans with Sallie Mae and recently began the Income-Based Repayment Option in June 2010. I made my first payment early and every payment since. However, they added a $115 late fee to my account the first month. I called customer service, and the representative says I do not owe a late fee. However, it's still on my account and every month when I receive my on-line bill, lo and behold there it is. I e-mailed them and they replied that it was added before the IBR, but this is not so. I have e-mailed them again and told them to remove this immediately under threat of legal action. How can I deal with them?

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Lawschoolsucker
Collinsville, US
Nov 06, 2013 11:48 pm EST
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I am on unemployment deferral for my federal student loans. I insisted that Sallie Mae approve my IBR application so that I could get the months ticking toward my 25 years. They approved it but arbitrarily picked a payment of $750 a month for my payments. How can they come up with that monthly payment when I am unemployed? Even when I was employed I NEVER made enough money for my monthly payment to be $750. I've tried to call them several times but cannot seem to get through. Also, I have 2 private loans through Sallie Mae. I always pay my bills online and pick exactly which loan I want the payment to go to because my parents are paying off the other one. Sallie Mae applies my payment to whichever loan they want and now say I am behind in my payment. I paid my payment but they applied it to the wrong loan. I have been dealing with these kinds of problems since I got out of law school in 2004. If I had it to do over again, I would NEVER have gone to law school and taken out student loans. They will be hanging over my head for the rest of my life unless something changes. They prevent me from getting credit and even buying a house. Basically, they have ruined my life and Sallie Mae continues to wreak their havoc with my credit.

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Sallie Mae Bank Forebearance and customer service

-Complaint#1: Bait and switch with Loan consolidations.
-Complaint#2: Loan payment pipeline inadequacies.
-Complaint#3: Forbearance practices.
-Complaint#4: Customer Service (including Customer Service Supervisors).

I recently graduated college and could not find a job other than part time work. I am not some wet behind the ears teen. I am a 33 year old Army combat veteran. I am a responsible borrower. Never before had I ever felt like I made a wrong decision (like borrowing money to pay for my education) as I do now by “working” with Sallie Mae.
- 1) I had been waiting for SM to restart their loan consolidation program. When my loans were two months from being due, I called the Customer service to inquire about Loan Consolidation. The lady told me to “call in another month, and they should be ready to go”.
I called back, and the operator told me she didn’t have any info regarding Loan Consolidations. “Try back later.”
I spoke to another recently and she said”I had a meeting with some higher ups, and they said we should start loan consolidations again by the end of the year.”
I do not believe a lonely operator has the stature to have a meeting with higher ups. I do believe Sallie Mae has the habit of delaying the borrower long enough that the borrower will go into collection.
- 2) This is not the first time that I found out there was missing steps or information regarding trying to catch up with my loans. It seems the operators are leaving information out, only to leave me standing around thinking I am squared away while my loans are going into collections. SM is inconsistent and misleading. If not misleading, then the correct word is incompetent.
- 3) My grace period for loan repayments came up. I was now a month due and I had to request forbearance for my private loans while I look for an institution that will consolidate my loans. I paid the 150 dollar forbearance fee which isn’t my complaint.
I get an email stating that my loan is two months delinquent now. The customer service collection department contacted me. I find out that one loan was not accepted for forbearance because “I could not apply for it over the phone, since the loan was through Sallie Mae, but the bank was a different bank”. I asked why I wasn’t told that during the forbearance process. I then asked if they could contact the bank, just to tell them that I was going to fill out the paperwork and get it to them as fast as I can. The operator stated he can’t do anything about it; I needed to send the paperwork on time. I informed the operator that did not receive the paperwork. He said it should get to me in a few days. I am already declared delinquent on that loan.
Thanks for the help.
- 4) When I asked to speak to a supervisor, the operator denied my request until I would explain to him why I wanted to speak to supervisor. I requested the operators ID number (ID# 59587. [protected] ext.59587) and had to hang up and call back to speak to a new operator. Same results occurred AGAIN! I finally explained to the lady that I would rather not complain about an employee to another employee, I would rather speak to a supervisor. I spoke with a collections supervisor Mark (ID#732) after a mild waiting period. I could tell he was already aware of what was going on by his tone. After attempting to get his assistance in resolving the delinquent loan, I was again told that I needed to send in the form to the bank. I get that.
All I needed was someone from Sallie Mae, who in my opinion screwed this up in the first place; by not informing me that one loan wasn’t going to be covered unless I sent in some paperwork, to contact the institution on my behalf- as a sign of good faith, that I was doing everything I could to get on good standing with them.
Mark then gets angry at me and said “Look, you are the one that borrowed money from us to pay for your school”!
I am not a child. I do not need a paper pusher to demean me. It is unacceptable to even approach a borrower with that kind of attitude. It is unprofessional.
I did call him a ###. I informed him that I was doing everything to repay my loans.
Mark threatened me by stating that he will deny my forbearance requests for speaking to him that way. Since when does a ### supervisor have the right to screw with someone’s finances over a personal problem? My next question is why it is Sallie Mae policy to allow their employees to determine if forbearance will go through or not, depending on what kind of day they are having?
My conversations with the operators “may be recorded and monitored”…so there should not be any doubt to my complaints.
--------M. From California.------------------
(Here are the higher ups contact info).
Eric D. Reicin
Sallie Mae, Inc. Office of the General Counsel
12061 Bluemont Way Reston, VA 20190
eric.d.[protected]@salliemae.com
[protected]

Anne Milem
Sallie Mae, Inc. Office of the General Counsel
12061 Bluemont Way Reston, VA 20190
[protected]
anne.[protected]@salliemae.com

Sallie Mae CEO Albert Lord
albert.[protected]@salliemae.com

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Eternanda
Alexandria, US
Oct 03, 2011 3:06 pm EDT

Hello!
I graduated University of Maryland, College Park with a Bachelor's of Arts Degree in Theater, and a hefty Student loan bill of about $70, 000, 40, 000 of which came from Sallie Mae as a private loan and 30, 000 of consolidated government loans.

I am paying about 500 per month on a regular basis and I am getting the hang of it, making the best out of a bad situation is what I call it. I had an idea to postpone payments for about 8 months, and raise money to knock the debt out on a bigger scale. I went into a forbearance with the Department of Education and all went well. When I went to Sallie Mae, They charge a $150 forbearance FEE for a 3 month forbearance period, and not a dime goes toward the student's bill. I am aware that private loans have totally different stipulations but is this even fair? Is this OK?

As a consumer, I think other students should be aware of this when making a private loan. Most companies try to tell you they will work with you in the event of hardship, but Sallie Mae is CAPITALIZING on hardship! We are PAYING to postpone payments...can you help? Or do you know someone who can? I would like to find out if this is legal. If it is, I would like to petition for Sallie Mae to either remove the fee altogether or Extend the length of time it covers to at least 9 to 12 months. Thank You!

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Sallie Mae Bank Identity Theft

I started getting mail to my address from Sallie Mae to an Ursula Dixon for a Deliquent Sallie Mae loan. I just assumed it was a mistake so I sent the letter return to sender. Then all of a sudden it started going to my relatives address where I lived a year ago. I was shocked to say the least. I immediately called them and informed them of these letters going to both of my addresses. Turns out this woman who I have never heard of has used my social security to get over 10k in student loans and the money has already been dispursed and is deliquent. I am in touch with the fraud department, the credit bureau's and the police department. This is a complete nightmare! I want to know how a woman opened an account under my social security number and why nothing was checked, no id or patriot act information. I am seriously violated here and do not know if I will be compensated in correctiveness after this disaster stops. Everyone please pray for me and share an experience if you have one as well.

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D&W
Conroe, US
Oct 04, 2010 12:31 pm EDT
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My prayers are with you. Though I have a Sallie Mae loan, I have been unable to find employment since 2007 graduation. Despite their kind "deferrments", it only goes towards the private loan and not federal. However, lately Customer Service is geting a bit hasty. I do attempt to pay what I can when I can. I think my situation is mild compared to yours. I do pray they catch the person, you are re-established in every aspect, and Sallie Mae takes more rigid steps in approving such loans.

D&W

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Sallie Mae Bank Sallie Mae has the very worst phone customer service that I have ever encountered

Sallie Mae has the very worst phone customer service that I have ever encountered. Yesterday I was on the phone with the them for 1 hour and 55 minutes, was transferred at least 7 times, NEVER got to speak to a supervisor or anyone else who knew what was going on and still did not get my problem solved. I like to have my bills automatically debited from my account. It is easier for me. I requested the appropriate forms from Sallie. They emailed them to me and I intened to fill them out and fax them in to Sallie. The forms they sent had the wrong fax number on them. I had to call and get the correct #. I faxed them in March 29, 2010. Then, they never told me that it would take a month to process the forms, so I was charged a late fee for April's payment. I called in to see why I was being charged a late fee and was told that I hadn't paid and that it would take a month to process my forms for automatic debit (which they had recieved), but the May payment would surely come out of my account. I also had sent the paperwork in to have my husbands Sallie payment debited from our account. They could not find his form. Finally they noticed that it was filed under my account. The girl I talked to put his paperwork with his account. Now to yesterday. Got another paper in the mail saying I was late on payment and would recieve a late fee charge. Called Sallie. the first 6 people I spoke with said that they could "see" where I had sent in the debit paperwork, but that it had not yet been processed and they did not know why, but it would be at least another month before my account would be debited. I could either pay on the phone and be charged $14.95 for doing so or incur a late fee. It took 3 transfers to get someone competent enough to take my money on the phone. Then I was told that I had to be transferred to the "Orientation" department to reolve the debit form issue. When I was finally transferred to the "right person" (and I use that term very loosely), she told me I had sent in the wrong form, she needed the "blue" form. Now, the form I sent in for my husband that they initially lost had been processed without complication and Sallie was debiting our account for his Sallie payments. The form were exactly the same, yet this girl told me I had sent in the wrong form and needed to resubmit! I kept trying to tell her that I had sent in the same forms and that it worked for my husband. She kept putting me on hold so that she "sould speak with the superviser" yet I was never allowed to speak with the supervisor. After 1hour and 55 minutes, I was told that she would forward my form to "processing" and that it would take 7-14 days to "process." So, I still do not know if my account will be debited next month or not.

What the heck! I am trying to give these people my money and they make it so complicated! It is more beneficial to them to screw people over and charge ridiculous fees than to simply be competent. What a joke!

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PatriceRobinson
Chicago, US
Mar 29, 2011 2:52 am EDT

Sallie Mae sucks...not only do they engage in unfair, unethical and low down business tactics but they don't keep good records. I contacted Sallie Mae this afternoon and was hung up on after requesting to speak to a supervisor. I spoke to a total of 5 reps before I could get one on the phone who had a record of my student loans. When I called back and asked for the name and id# of each customer service representative I was speaking to, it was a miracle they found my record. My loan "defaulted" after Sallie Mae never contacted me for 6 months to tell me I owed them anything. I was told that I was given a forbearance but they lied. It appears that Sallie Mae has been putting borrowers into premature default to collect the lump sum from the guarantor, while in the process screwing you the borrower and your credit. Now, today they told me they know that my loan has been paid off, but they have no records pertaining to the payoff amount to the guarantor. I asked this because I want to know how much of a kickback/premium they get on causing a premature default. The next steps for me include, US Attorney General - Eric Holder, Federal Trade Commission, U.S. Department of Education, FSA Ombudsman, Virginia Attorney General Kenneth T. Cuccinelli, and the Better Business Bureau. I hope you will join me. Report their abuse and put them out of business.

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fred schroeder
Ferguson, US
Nov 30, 2010 8:43 pm EST
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The Student Loan Marketing Association was originally created in 1972 as a government-sponsored enterprise (GSE) and began privatizing its operations in 1997, a process it completed at the end of 2004 when Congress terminated its federal charter, ending its ties to the government. The company remains the country's largest originator of federally insured student loans. Through its specialized subsidiaries and divisions, Sallie Mae also provides debt management services as well as business and technical products to a range of business clients, including colleges, universities and loan guarantors.

In 2005, Sallie Mae was among 53 entities that contributed the maximum of $250, 000 to the second inauguration of President George W. Bush.[6][7][8]

In August 2006, Sallie Mae acquired Upromise, a company that provides rebates to buyers of certain brands, which can be applied to college savings accounts. Sallie Mae and Upromise plan to market comprehensive financial packages to parents and students, including investment plans, financial aid information, and student loans.

On April 16, 2007, Sallie Mae announced that an investor group led by J.C. Flowers & Co. signed an agreement to purchase Sallie Mae for approximately $25 billion (USD). Had the transaction completed, J.C. Flowers along with private-equity firm Friedman Fleischer & Lowe would have owned 50.2 percent of Sallie Mae, and Bank of America and JPMorgan Chase would each have owned 24.9 percent. Sallie Mae would have ceased to be a publicly traded company.[9] The deal fell through in September 2007, with the buyers blaming adverse changes to the business's outlook as a result of the College Cost Reduction and Access Act of 2007 and the tightening of global credit markets following the 2007 subprime mortgage financial crisis.[10] Sallie Mae subsequently began legal action, only to drop it in January 2008 upon completion of a $31 billion funding round, including funding from Bank of America.[11]

On April 6, 2009, Sallie Mae announced that it will move 2, 000 jobs back to the U.S. within the next 18 months as it shifts call center and other operations from overseas.[12]

On March 31, 2010, Sallie Mae announced the impending layoff of 2, 500 employees in response to the signing of new legislation calling for the federal government to lend directly to students, bypassing institutions like Sallie Mae.[13]

On July 1, 2010, Sallie Mae announced that it will be moving its headquarters from Reston, Virgina, to its existing facility in Newark, Delaware, in 2011.[14]

On September 18, 2010, it was announced that Sallie Mae will acquire federally-insured loans from Citigroup-owned Student Loan Corporation worth $28 billion.[15]

[edit] Corporate information
Sallie Mae operates servicing centers in Gilbert, Arizona; Lynn Haven, Florida; Indianapolis, Indiana; Muncie, Indiana; Mount Laurel, New Jersey; Wilkes-Barre, Pennsylvania; Killeen, Texas, and Whitewater, Wisconsin, as well as 71 other offices in the United States.

Sallie Mae is listed on both the Fortune 500 and the Forbes Global 2000. The company has been recognized as one of the 100 Best Corporate Citizens according to Business Ethics magazine and one of the top 30 companies for executive women by the National Association of Female Executives.

[edit] Corporate board
Anthony P. Terracciano is Chairman of the Board of Directors. He joined the board in January 2008 following the failed sale of Sallie Mae to J.C. Flowers. Terracciano was formerly President of First Union Corporation (now Wachovia), Chairman and Chief Executive Officer of First Fidelity Bank Corporation, President and Chief Operating Officer of Mellon Bank, Vice Chairman of Chase Manhattan Bank, and non-executive Chairman of both The Dime Bank and Riggs National Corporation. Albert Lord currently holds the positions of Vice Chairman and CEO. Lord joined Sallie Mae in 1981, took over as CEO in 1995, and led the company's privatization.

[edit] Social responsibility
Corporate Responsibility Officer has named Sallie Mae one of America's "100 Best Corporate Citizens" five times. Corporations (over 1, 100 are evaluated) are selected according to community, governance, diversity, and environmental best business practices.

Sallie Mae sponsors The Sallie Mae Fund, a charitable organization with a mission to increase access to higher education for America's students by supporting and starting programs and initiatives that help open doors to higher education. The Sallie Mae Fund prepares families and students for college and provides scholarship funding that focuses on minority, low-income, and "first in the family" students. Since 2001, The Sallie Mae Fund has awarded $10 million in scholarships to help 4, 000 students enroll in college. That is $1 donated for every $12, 690 under their management.

Through The Fund's work, Sallie Mae was named among BusinessWeek's Top 15 Corporate Philanthropists in 2004. The Washington Business Journal identified the company as the top local corporate philanthropist in 2005.[16]

Sallie Mae won the Ron Brown Award for Corporate Leadership in 2006. It was honored for three college-access programs developed by The Sallie Mae Fund: Latino College Access Campaign, Project Access: DC, and The Sallie Mae Fund Scholarship Programs.

The Sallie Mae Fund earned the 2007 Insight Award for Customer Advocacy in Financial Services (from Insight Forums, LLC). The award recognizes financial communications initiatives that proactively enable customers to make fully-informed choices.

[edit] Controversies
On November 9, 2005, former Sallie Mae employee Michael Zahara filed a federal lawsuit against the company, alleging that it had a pattern and practice of granting forbearance in a purposeful effort to increase total student loan debt. On October 29, 2008, permission was granted to his legal counsel to withdraw from the case, citing "From counsel’s perspective, a breakdown in trust has resulted from the discovery that Relator has been arrested for extortion, the circumstances surrounding that arrest, and Relator’s failure to disclose the arrest to counsel."[17][18] On March 12, 2009 the court ruled "dismissal without prejudice" because "the plaintiff has failed to obtain substitute counsel by the deadline."[19] Zahara was seeking new counsel.[20]

A 60 Minutes segment (originally aired May 7, 2006) examined Sallie Mae, including its business practices.[5] A professor of law at Harvard Law School, Elizabeth Warren, who is also an expert on bankruptcy and an outspoken critic of consumer lenders, questioned Sallie Mae's dual role as both lender and collector.[21]

In February 2007, New York Attorney General Andrew Cuomo launched an investigation into alleged deceptive lending practices by student loan providers, including The College Board, EduCap, Nelnet, Citibank, and Sallie Mae.[6] On April 11, 2007, Cuomo ended his investigation of Sallie Mae and announced that Sallie Mae had voluntarily agreed to change its lending standards to satisfy a new code of conduct for student loan practices established by Cuomo, and to donate $2 million (USD) to a fund devoted to educating college-bound students about their loan options.[22]

On October 10, 2007, documents surfaced showing that Sallie Mae was attempting to use the Freedom of Information Act to force colleges to turn over students' personal information.[23] The university involved, the State University of New York system, is expected to decline the request and be forced to defend its position in court.

In December 2007, a class action lawsuit was brought against Sallie Mae, alleging that the company discriminates against African American and Hispanic private student loan applicants by charging them high interest rates and fees. The lawsuit also alleges that Sallie Mae fails to properly disclose private student loan terms to unsuspecting students. The lawsuit is pending in a Connecticut Federal Court.[24] New York Attorney General, Andrew Cuomo, raised similar concerns about possible student loan redlining in June 2007.[25]

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fred schroeder
Ferguson, US
Nov 30, 2010 8:39 pm EST
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I have even called the ftc onthem to no avail

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fred schroeder
Ferguson, US
Nov 30, 2010 8:38 pm EST
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sallie mae is the worst my school shut down 2 day s after I grad I told sallie mae I 'm not inthe field I can't pay it not enough money coming in they callevery day including sunday saqllie mae in a lawsuit with my school jesu christ don't they get the picture

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helpourstudents
, US
Jun 15, 2010 2:58 pm EDT
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You need to call your senators and your Congressman and tell them this story and then...ask them why they allowed the Department of Education to give a contract to service Federal Loans to Sallie Mae. This is after they received many, many, many calls and letters about their bottom of the barrel customer service and after they told me that quality of service was one of the components to get the contract award. Sounds fishy, doesn't it? Why would our government give a contract to a known bad provider? Your complaint doesn't even begin to scratch the surface of what this company has done to so very many young people. This company has gotten away with "murder" and the big question is WHY? Can you say lobbyists and campaign contributions and a not so honorable Congress who is willing to sell out our young adults for the favor of a large corporation. It is beyond shameful.

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3:16 pm EDT
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Sallie Mae Bank bad customer service

All I wanted to do was change my bank account information with sallie mae for our sons student loan that comes out of our checking account each month. I tried to log in, but I guess I forgot my password or something. No big deal right? That's easily fixed, right? wrong... I was trying to fix this little thing for an hour this morning. I was told I would have a new password and log in, in a few minutes, that was 6 hours ago. I called them several hours ago and a woman who could barely speak english, said she could help me fix the problem . I said I would rather they fax me the form to change our checking account information. They had no way to fax it to me! So I asked them to mail it. By the way, my next payment will be late now. Can't wait to see if they charge me a late fee. After talking to this person for twenty minutes, she says, oh, I help you fix on line! Okay, I said, I'm ready, Oh sorry, you not first person on loan, have to have first person on loan. Ho Hum, I finally just hung up!

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madinoklahoma33
Pawnee, US
Apr 27, 2012 4:07 am EDT
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I too have had a bad deal with this company. Sallie mae is not a good loan company for students. I have student loans with them that amount to $25k. I have sucessfully put most of them into deferment or forebarence. However I have 2 private loans with them that at the time I didn't know were private. I have Since Oct. 2011 been trying to tell them to put my 2 private loans into forebarence they are refusing to. I am not able to return to school yet or get a job due to recovery from a broken leg. I told the rep that I spoke to to put the 2 private ones into forebarence but he said that it would not be wise and to continue to make my payments. I told him I can't and I would have the $100 for the forebarence sometime in Feburary 2012. He refused to do that I hung up. I keep getting calls at least 15 times a day to pay the payments. I finally couldn't take the phone ringing and sent a cese and decist letter. They have stopped the phone calls. However, I am showing deliquent of 141 days on my acct. If I told them I could not make the payment monthly then they should have let me pay the $100 forebarence fee to stop the payments. I am very mad and do not care anymore. I still want to finish school and hope that I can, however, I am not taking out anymore student loans. I will work part time and pay that way. I am on food stamps and have a 10yr old daughter to take care of. My soon to be husband offered to pay the fee for me but they refused to take it. I hope everyone else reading this does the same and not deal with liars Sallie Mae. They are crooked and don't care. If a lawsuit is started aganist them then I want in. They need to be taken down.

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dlib2005
Seaford, US
Jul 07, 2010 7:27 pm EDT

IF you gave them call before the payment was due the following week, like maybe call 3 weeks prior to the next due date...it would never have been late. Most companies, as large and consumer wide like SallieMae, do not have fax machines lying around to send incompetent borrowers letters. All info is easily accessible online for most of these large firms. If you idiots read your agreements and contracts when you took out loans with any company...you'd realize how stupid YOU sound when YOU call into these places complaining.

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10:19 am EDT

Sallie Mae Bank Nightmare

This is the worst loan company I have ever had. I enrolled in this stupid automatic debit because they claim they lower your interest rate bla bla bla...and then I come to find oout when going through bills that somehow I paid my account ahead and I didn't owe an April 1st payment...

The website said under my payment schedule that the automatic debit was to start MAY 1ST 2010. BUT on April 1st the auto debit took money from my checking account, putting it in the negatives and it gave my $70 of fees.

So I called Sallie Mae and of course spoke to someone barely able to understand a word of what I was saying and vice versa. All he could do was apologize and then he did something to my account changed my start date to April 1st AND he got rid of my last payment! THEY ARE SCAMMERS AND THEIFS! So I called again and I got hung up on after talking for 15 minutes to someone probably because they had no idea what to do.

They are crooks and they will make you feel horrible if you try to put your loans into foreberance. I wanted to put the complete $245 in foreberance but for the private loan, I was actually asked why I "couldnt make a payment that is just $75." What jerks!

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willy5656
Easthampton, US
May 07, 2010 1:41 pm EDT

One can go on line and read thousands of complaints about the abusive collection techniques of private student lenders, with the worst offender being Sallie Mae. People whine and complain to the Better Business Bureau and think somehow that will help solve the problem. Wrong! What will solve the problem is to complain to the people that granted Sallie Mae an exemption from all of the laws governing other lenders.i.e., the Congress. Right now there are two bills being debated, one in the Senate (S-3219) and one in the House (HR 5043). These bill would allow private student loans to be discharged in bankruptcy. I'm not suggesting that everyone in default on their private student loans run out and file bankruptcy, but the possibility of doing so should result in a kinder and gentler Sallie Mae. There is also legislation being discussed to require Sallie Mae and other private student lenders to adhere to the FTC Fair Credit Reporting Act.

STOP WHINING, EDUCATE YOURSELF QUICKLY AND WRITE YOUR SENATORS AND CONGRESSMEN.
Get your parents involved as well. Most everyone wants to pay their student loans but sometimes they need time and understanding while they position themselves after graduation.

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Sallie Mae Bank Rip off payments

Sallie Mae cashed checks and have not applied them to my account. They are a bunch of thieves! I have called them repeatedly over the past 2 months and they still have not resolved this. One of my last 2 payments was actually added to my account increasing monies owed instead of deducting it as a payment. My bank has record of them cashing both checks. I really need to start a lawsuit filing for fraud. I am at the end of my ropes; meanwhile the interest continues to build. God knows what country we are calling when we contact the idiots at sallie mae. Do you have any suggestions of what I can do? What attorney may be able to assist me?

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Enlightend
Beverly Hills, US
Mar 22, 2012 12:52 am EDT

LISTEN TO ME PLEASE. SALLIE MAE HAS RUINED MY FINAL SEMESTER IN COLLEGE. I AM IN MY FINAL MOMENTS IN MY DEGREE AND I AM NOT ONLY HARASSED, MY DEBT JUMPED 30, 000 INCREASE WHILE I WAS PAYING THEM BACK DURING A SEMESTER IN WHICH I DID NOT TAKE A LOAN AND A SEMESTER IN WHICH I HAVE NO MONEY SINCE MY SCHOOL TOOK EVEY PENNY RTO MY NAME. WE NEED TO ORGANIZE A NATIONAL CAMPAIGN TO REFORM THESE LOANS AND AUDIT THESE CROOKS. THE HARASSMENT IS AN ADDED BONUS I GUESS.

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KyleJF
Springfield, US
Jan 21, 2011 8:39 pm EST

My son is having a similar problem. I too told him he should file a suit. Sallie Mae back in July 2010, sent back his loan payments, with a note attached that he had the wrong account numbers. Keep in mind, these are the same account numbers he has used since he started repaying the loans. I really wish everyone who has loans through them would nail them to the wall.

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Heidigirl
Woodland HIlls, US
Sep 24, 2010 11:12 am EDT
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Same EXACT problem. I have faxed them proof of payment AND my statements and still they don't apply the payment to my account. I have spent hours on the phone and also going back and forth via e-mail, all to no avail. I feel totally helpless since they are a government agency. I would love to know what recourse we have!

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Pamela M.
Brandon, US
Jul 09, 2010 8:16 pm EDT
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I have had the same problem with my checks being cashed but not applied. The harrassing phone calls are rediculous. I was told at first to fax copies of the cashed checks to a fax number they provided to take care of it. Meanwhile the calls came every day, sometimes two times a day. I know the faxes went through because I have the proof it was received. A week later I was still getting call. I told them that I had faxed the proof of checks cashed but then got transferred around the world trying to get the issue taken care of. Finally one guy told me the other faxes weren't enough and I had to fax them copies of my entire bank statements. I told them that was rediculous and that I wouldn't even send my statements to my parents, let alone them! After talking to a "supervisor" using the term loosely, he told me that sending the statements was the only way to fix the problem. I told him I was going to file a complaint and he told me he was as high as I could go and he would pass it on. What a jerk! I finally did fax over my statements, with everything blacked out but the bank name and the place showing the checks cashed by sallie mae. Of course I'm still getting the harrassing phone calls. If anyone knows how to start a class action suit I'm soooo on board! Pam, Tampa Florida

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Haydee S.
Garden City, US
Mar 24, 2010 4:59 pm EDT

I am having a similar problem with Sallie Mae right now. I made a payment at the beginning of the month, which they are insisting they did not receive. They keep calling and sending collection letters. Meanwhile, not only is my account is listed as up-to-date on their online site, but they also emailed me a statement reflecting that. My bank informed me that the check was indeed cashed by Sallie Mae. When I call the customer service people and explained the situation they keep telling me that my account is delinquent---as if they haven't been listening to a word I said. I told on rep that check was cashed and he said I must have sent it to someone else! I told him that my account was listed as current on their site and he said that it couldn't possibly be!

Today one of their reps asked me to fax the last statement they emailed me (!) reflecting that the payment had been made. Then when I asked to speak to a supervisor, he disconnected me. I called back and had to go through the same thing all over again with another person. It's hard to believe that this company actually operates in such an unacceptable, incompetent fashion.

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Sallie Mae Bank Stolen Tax refund

Sallie Mae is sitting on my tax refund! On Dec. 13th, I have been told by Sallie Mae, a batch of previous borrowers were incorrectly added to the treasury off-set program, resulting in God knows how many peoples' refunds being taken away from them mistakenly. Since the amount is used for security questions and such, I can only say it was well over $2000. I have been calling everyday since January 29th, my expected refund deposit date, and everyday someone tells me another day that the check will be in the mail. They refuse to refund my money and I am losing my car and my transportation to school and to work. I am a landscaper and I depend on my tax refund as income during the slow winter months. When I am called back to work in a couple of weeks, I will have to decline as I will not have transportation. As of 2/18/2010 they are telling me they will mail me MY money next Wednesday. That is too late to receive funds to make my LAST car payment, and I will lose my ca
r as a result. I've had it up to hear with this non-sense and I hope my comment reaches someone, I hope someone has had the same experience, and I hoe to GOD there is some sort fo legal action I can take for their 'computer error'. I suspect the broke Sallie Mae is earning interest and investing our cash in short-selling stocks in order to make a quick buck, but who knows? Who cares? I WANT MY MONEY YESTERDAY!

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grumpylexie
, US
Feb 09, 2012 6:15 pm EST
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Sallie mae called me using my own telephone number.I feel this is wrong.They are unsympathetic when I am on unemployment and nearly homeless.They are rude and should be reprimanded for their actions in harassing people.

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rd3009
, US
Apr 26, 2010 5:13 pm EDT

to maxieru- the pymts are delinquent . thats why the tax check was taken . its like you are still making delinquent pymts . as long as the acct. has a delinquent status, the govt has the right to take the check, even if you have pymt arrangements on the delinquent amt. it sucks, but it definitely pays to read the prom note carefully before signing !

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Maxieru
Seattle, US
Feb 25, 2010 5:02 pm EST

My son applied for Sallie Mae loans to attend a vocational school. Unfortunately the school provided little in the way of education and marketable skills. Also, financial crises prevented him from completing the remainder of his second year.
Since then he has had to settle for crappy jobs with crappy pay and now has a debt to repay that adds interest exponentially. My son tried to talk to them, when he could actually get hold of a human being and to try to find a middle ground of compromise such as how about a payment that is realistic with the cost of living and wages…all for naught. He was unable to eke out a living with his wages and when it came down to buying food or paying a student loan payment, he opted for the food. Sallie Mae's debt collection and customer service techniques border on criminal and cruel and unusual punishment. They make resolutions impossible and their monthly payment programs are disproportionate to my son's, to anyone's income I would surmise.
The debt was eventually turned over for collections and we all know there is a special hell for those folks their methods are inhumane, unethical and unreasonable. He now has to deal with the collections and the government in some form or fashion; needless to say he comes up against two very unreasonable and unmerciful entities. The government has their agenda and and collections has theirs and neither the twain shall meet.
He has currently lost his job and he decided to go back to school and was doing some research on the student loan debacle and discovered there might be some way that not only would he benefit from but that it would make it possible to make some head way into eventually paying back his student loan. He contacted the collection agency that holds the student loan and they told him that if he could consistently make monthly payments for 10 months his loan would go out of default and then he could reapply for student loans. He was also told that they would not attach his tax refund. Well that was a lie because they did and my son received a letter from the treasury department that they had indeed withheld and applied his measly tax refund to the student loan. So now I am thinking if they lied about that they might be lying about the “10 month” deal. He has enlisted my help in assisting him in making these monthly payments and I can’t afford them either. I am now though skeptical if making these payments will actually help him out of the “default status”, allowing him to indeed apply for more student loans to finance a better education for a better paying career. What’s the deal!

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Sallie Mae Bank Being sue recieve summons today

I receive a summon Sallie Mae is suing me. I have been out of work since October of 2007. I made a payment during the time I was working. I was in a bad car accident that has cause my illness to get worse. I'm currently going to physical therapy but I can't walk a simple block without pain. I also have moderate rheumatoid arthritis. I have herniated disk basically I deal with pain on a regular basis. I try to talk to them but I usually just end up getting upset. They even stated that I own a daycare. I have never work or own a daycare.
However there is one in town own by someone with the same name as me. I have other loans but they have been consolidated into one. Im attending school again to see if I can go into a different line of work. I was wondering how do I write a pleading. I can't afford a lawyer. Thank god for my family if I didn't have them it might me make suicidal. I don't know what to do in this situation. Can they send me to jail because I can't pay them. I can't work and the only income I have is my kids disability. I applied for disability. Please help I'm scared and really don't know what to do.

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Maygan
Miami, US
Dec 19, 2009 2:38 pm EST

First, make sure that they are NOT mixing you up with this person that has the same name as you. Check SS#'s, account number on loans etc. Second, call the customer advocate unit ASAP and tell a rep your situation. They can comb over your case by each hair and pluck out the inaccuracy in your situation. The number is [protected].

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Sallie Mae Bank Do Not Use Them!!

Please Read This Carefully.
It is interesting how the day my boyfriend and I walked through the doors of Devry University in Pomona, CA
when we had our hopes high on affording an education. Well, it turns out he did not qualify for financial aid (even though
he & one parent was unemployed...!?) and so we were told to apply for grants from the state (did not come through) so the SAME
day we meet with the financial aid advisor who pretty much applies for my boyfriend's student loan on sallie mae's website.
We later found out we were approved (yay..) with a "great" loan that you don't have to pay back "6 months til after you GRADUATE******) yeah read that carefully because they pretty much threw that completely out the window and started charging us $150/mo. only 6 months after he was ENROLLED not graduated. When I called to ask what the hell was going on the lady told me that they had sold off our loan to the Department of Education and therefore the terms of the loan were now different. In addition, I felt the strong urge to just try and pay of a large amount of the loan ($1-2k) on the $20k loan and she told me that the payments are interest only and that basically we would be paying it off until 2025 because there is "No Way" to pay of the actual balance, just the interest.

This right here (as my dad told me and several others) is ILLEGAL.
Sallie Mae has scammed on thousands of students nationwide, and receives kick-backs from the schools they get loans from
(like DEVRY)

I will be contacting a lawyer to seek legal advice because at this point owing them $20, 000.00 might not seem like a lot but they actually charge you thousands more in interest and try to lock you in their ### contracts for as long as they can because they know that these students often have no where else to go.

Please DO NOT support Sallie Mae or Devry, I promise you that you will regret it shortly after, and I am only saying this to try and help anyone out that I can. I am only 23 yrs. old and feel hopeless, in debt, and literally signed my life away to this horrible company.

If you need money for school, talk to a financial aid advisor and see what kind of scholarships or grants there are, ask family or friends for small loans that you can pay back every month in a small amount (like $50-$100) instead of taking out loans.

If you have to take out a loan please talk to everyone you can about it first!

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twunky
Orlando, US
May 27, 2010 1:34 pm EDT
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Agreed. Im a graduate of Devry and Sallie Mae and Devry are scams. Im 150, 000 in debt. They can suck it though. I dont have the money, so they arent getting it. If they want to garnish my wages, ill quit. Want to take my tax returns? I wont work, thus wont be any. The government is siding with these big companies, so us little people who want nothing more or less than an education are hopeless.

We'll Im here to say IM IN DEBT FOR LIFE. THIS COUNTRY WORKS BECAUSE OF DEBT. THIS SYSTEM IS SO MESSED UP, THERE IS NOTHING WE CAN DO BUT LAUGH AND NOT TAKE ACCEPTANCE.

Dont let it ruin your life. I let it ruin mine for a while and it sucks. Now I'm carefree (well a little bitty concerned). I know I will NEVER pay back this loan in full. Its too high and the interest is at 13%, making the interest 1000/month. Unless I win the lottery, good luck getting your money. Im a responsable person, and I have always been, but Im not playing these games no more with them. I dont have a million years on this earth to sit a cry about a scam I feel victim too. And the sad part about it is that the government will back them no matter what.

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Sallie Mae Bank Lying

Sallie Mae LIES

This is a true story based on my experience, and all statements reflect my direct experience or opinion.

Five years ago, due to an illness, I had trouble with a student loan and it was referred to Sallie Mae. A representative told me that if I was able to make payments on time for a year, they would be able to transfer the loan -- and that if I did this, I would regain the ability to receive student loans in the future and that the negative item on my credit report would be erased.

I busted ### and dug deep, and I was able to financially dig my way out and make the on-time payments, and the loan was transferred and is current. It was very hard, but I did everything they said to do, for them things went perfectly.

When I pulled my credit report recently, the negative entry was still there. I wrote Sallie Mae and they told me to buzz off, in so many words.

Sallie Mae lied. I understand lying to collect a debt, it’s done every hour of every day. But when people find out you’re full of it, don’t be surprised when you’re called out.

If you are a person with a student loan, and you get into financial trouble, be warned by my experience: Sallie Mae will make deals they have no intention of honoring. Pay your student loans (obviously), but if you are in financial trouble make sure you take into account Sallie Mae’s dishonesty when prioritizing how you’re going to get out of debt. In other words, put the money where it will do the most good first, because Sallie Mae won’t do any good for you.

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Lawschoolsucker
Collinsville, US
Nov 06, 2013 11:54 pm EST
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I am on unemployment deferral for my federal student loans. I insisted that Sallie Mae approve my IBR application so that I could get the months ticking toward my 25 years. They approved it but arbitrarily picked a payment of $750 a month for my payments. How can they come up with that monthly payment when I am unemployed? Even when I was employed I NEVER made enough money for my monthly payment to be $750. I've tried to call them several times but cannot seem to get through. Also, I have 2 private loans through Sallie Mae. I always pay my bills online and pick exactly which loan I want the payment to go to because my parents are paying off the other one. Sallie Mae applies my payment to whichever loan they want and now say I am behind in my payment. I paid my payment but they applied it to the wrong loan. I have been dealing with these kinds of problems since I got out of law school in 2004. If I had it to do over again, I would NEVER have gone to law school and taken out student loans. They will be hanging over my head for the rest of my life unless something changes. They prevent me from getting credit and even buying a house. Basically, they have ruined my life and Sallie Mae continues to wreak their havoc with my credit.

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Sallie Mae Bank SallieMae Forbearance Scam

Becareful, I think SallieMae employees are running a SCAM to bar people from filing for a forbearance. You are entitled to a forbearance by LAW. If they don't give it to you file a complaint with the proper agency. In my case, I was going to sue SallieMae Pro Se. Being a law student helps.

SallieMae employees informed me that they could NOT give me a forbearance into the furure only for the past debt to today. And that I would still have to make payment on the loan from today. They wanted to charge me $50 + loan payment.

SallieMae employees informed me that they have (1) government loans and (2) private laons. And a forbearance on a private loan cannot go into the future. Their website doesn't say that. I didn't see any law that defines a forbearance different for a private loan and government loan.

Today, after days of arguing with them, they gave me a forbearance into the future.

DEMAND YOUR RIGHTS!

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Criminals
Detroit, US
Jan 06, 2011 3:35 am EST

Our daughter had loans from Sallie Mae. When she became delinqent, a letter was sent to me, saying that I had co-signed. My daugter was a senior, with months to go before graduation. She had not asked us to co-sign for her. We asked for proof showing me as a co-signer. They sent forms with e-signatures, one form had an amount of over $8, 000/00. The second form, did not have a dollar amount. Our daughter told me and wrote a letter to Sallie Mae, telling them that she did not have a co-signer. The information on the forms were incorrect. Our daughter suddenly, died in May of this year. I have a lawter handling this. We can't do anything until they take me to court.
Salle Mae had me file a Theft Idenity report. The police said there was no theft Idenity. Today, they sent a bill addressed to me, not as a co-signor for an amount over $24, 500.00. -

I have written letters, my daughter wrote letters, our Attorney stopped the phone calls. I am going to send the correspondence to Washington, until, I find someone to make this go away. I don't want to look at my credit report.

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MarshaA77
, US
Dec 28, 2010 9:33 pm EST

I had a forbearance on a private tech school loan (Career Training Loan) 2 years ago without any fee. Today, though, they tried to charge me that $50 fee DavidMe referenced. As far as I can tell, this is unfortunately legal. Nikkinosocks mentions limited forbearance time, which is true, but in my case I ran out of forbearance time through Sallie Mae error. They had screwed up the date I quit school and had me leaving a year earlier than I was. Instead of correcting the leave date on the computer, they processed a forbearance without paperwork and without my request, leaving me now with no months left. So all in all, I believe DavidMe who says he thinks it's a scam, because some funny business is going on with Sallie Mae and forbearances. Sadly, I think it's all legal, and there's nothing we can do to correct it short of hiring an attorney.

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saranic0le
Chicago, US
Mar 01, 2010 8:27 pm EST

It IS your right if you QUALIFY for a forbearance and they make it a living hell. I have 1 private and 1 fed loan with sallie mae. They expect me to pay 3 days after finishing my undergrad. I don't get a grace period because a few years ago Sallie Mae told me they're no longer giving loans to students under 21 w/out a co-signer so I had to drop out of school and transfer. They then used my grace period then...instead of forbearancing it. NOW I'M SCREWED. Also, their reps are extremely rude and need attitude adjustments.

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KLP3324
, US
Dec 05, 2009 7:28 pm EST

You are terribly mistaken...FORBEARANCE is not your right...DEFERMENT is your right on FFELP loans but not private loans. FORBEARANCE is lender discretionary.

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nikkinosocks
winchester, US
Nov 16, 2009 6:15 pm EST

Guess what people? You are allowed a limit on that forbearance time! SOO if you use all but 6 months of it and it will only bring you current for a certain amount of time, that's all you have. Use it wisely

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ghigby
Fort Myers, US
Nov 12, 2009 10:54 am EST

How did you actually speak to someone who could help you? My wife has more than 260k in student loan debt. We asked for a Forbearance last year and were told that a month in advance was not enough time. This year, we filled out the app. well in advance to ensure that we would not have the same accidental huge payment deducted from our account. Now just a few weeks away from the cutoff, they say that our application is more than 30 days old and we have to fill out a new app. So now, you cannot file early nor late. You can't talk to anyone that is helpful. They dance around questions like: Why wasn't our 6 week old application processed yet? Now we have to fill out a new app. and get slammed with another mortgage sized payment this month. They did manage to bump our payment back a month so that they could collect more interest however. This is so frustrating. There must be some place to call that regulates this terrible loan giant?

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