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Sallie Mae / forbearance

1 WilkesBarre, PA, United States Review updated:
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I borrowed money from Sallie Mae while in college. Now, two years out of school, they have been harassing the hell out of me. I was thinking, it's the economy, stupid.

They accelerated the repayment schedule, refuse to readjust the terms, and won't even let me make a partial payment. They want me to pay $500.00 a month... but hell, I only make $350 a week.

I know college kids get in a bind and need money fior school. I'd think twice before borrowing from Sallie Mae. They're crooks.

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  • To
      29th of Apr, 2009
    0 Votes

    The same thing has happened to me.I couldn't pay but I was told I can't put a loan in forbearance if it is late.I paid what i had too and submitted the form.In the mean time it was time to pay again and I didn't have the money so I was in default and told that I couldn't do forbearance because I'm late.I was late last month I told them.They call and harrass me every day.

  • Ha
      2nd of Jun, 2010
    0 Votes

    Sorry to break the news to you but when you borrow money from this company for a student loan and you sign the agreement you are actually signing your rights over to them. Therefore you belong to them you are their slave to do to as they will. You can send them a payment of lets say 300.00 each month to pay for your loan but they are not a regulated company and so the Government can not touch them or come after them nor the attorney general. They can take you so called "payment" of 300.00 and use it toward a company retreat or office party and not even put that payment toward your loan itself, they put itin a catergory like collections fee or forberance fee. Unless youcan somehow pay them 3 x the amount minumim each month you will never be free of them they have it fixed .

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