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sallie mE / student loan

1 United States Review updated:

I have made yet another attempt to rectify the lack of communication, statements and loan coupons from Sallie Mae, to no avail. They consistently refuse to do what they ask, despite the fact that my daughter, for whom I cosigned, is unemployed and unable to make the payments. They continue to tack penalties and and excessive interest onto the account, to the tune of over $10, 000. What can I do to make this stop?

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  • Me
      17th of Mar, 2009
    0 Votes

    I am in the same situation except it is my son. Sallie Mae didn't contact me about the default for 6 months and then refused to send me any invoices saying I need to take with my son. I was called a liar, and that I was pissed because my son is irresponsible and I am stuck with the bill.

    I actually contacted the Better Business Bureau and low and behold I started getting invoices and in my name, imagine that!!! I also get emails alert when the monthly payment is due.

    I would love for my son to get a loan with someone else to pay these rude, obnoxious people out of our lives but his credit sticks and I am not co-signing for anything ever again.

    I feel your pain.

  • Em
      22nd of Mar, 2009
    0 Votes

    Sorry guys but that's what happens when you cosign a loan!

    As for me, I defaulted on my loan with Sallie Mae (I had no cosigner) and they were nothing but gracious. They put me in a program to regain my status as a responsible debtor and I am now back in their good graces - enough so to allow me to take another loan, if I wanted to.

    Don't knock Sallie Mae. If not for them, 99% of students wouldn't be able to go to college at all.

  • Hi
      21st of Oct, 2009
    0 Votes

    SallieMae is a rip-off. I guess they will... loan you money to go to school because by the time they tack on penalties and interest you could pay for ten students to go to school. I don't know why the government does not put them out of business. It takes forever to pay off a loan at SallieMae. They get your payments mixed up and make you pay for months you have already paid even though you send a coupon with each payment. They tack on late charges even though you can prove the payments have been sent . Please people do not borrow any money from these people if you don't want to have this loan over your head for the rest of your natural life. I wish someone had warned me before the school my grandchildren were attending referred SallieMae to me. I borrwed $11, 000 and my grand kids did not use all of it so $7000 was returned. I have been making 3 to 4 payments at a time and I still owe over $3000 after 2 years. It is something wrong with this picture.

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