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1844 827 7478 (School Assist)
+1 855 756 5626 (New Student Loans)
+1 800 472 5543 (Existing Student Loans)
+1 877 346 2756 (Savings Products)
+1 877 978 1710 (Upromise GoalSaver Accounts)
+1 888 279 2828 (Upromise by Sallie Mae)
+1 302 451 4912 (School Assist)
+1 877 456 6221 (School Assist)
300 Continental Drive
Newark, Delaware
United States - 19713

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Texas Guarantee/Sallie Mae — Con Artists/Useless &customer service&

NEVER EVER get a loan through Sallie Mae, TG, or any other such agency! They will rape you, your credit, and...

Sallie MaeSallie Mae Is Horrible

I originally had taken out 2 school loans through Sallie Mae. All my other loans were through the government, which somehow Sallie Mae ended up picking up those. I end up graduating and getting my Associates degree and the 6 month period went by and my first payment was due. I paid it online and at this point I didn't have any problems.

A month later I decided I wanted to go back to school to get another degree that went along with my first one, so I went to the same school and got registered and got all my financial aid set up. I was told then, that I didn't have to make any more payments until 6 months after I graduated. So I made the last payment and then started classes again in a couple weeks after registering.

A month later when the semester started, that's when all the calls started. The first time I spoke to a rep who said that I missed my payment and was hit with a $50 late fee and that if I didn't pay they were going to report me to the credit bureaus and that I would never be able to get a home/car. I informed her that I was enrolled in school and that I shouldn't have to be making any payments. She told me she had no records of this and to have my school send the forms over proving I was in school. So I did just that. And the calls kept coming.

I would get 5-10 calls a day from Sallie Mae, and then they sent my information to a debt collector which they would call me 5-10 times a day too. Most of the time (which I found very ironic) they would call me AS I WAS SITTING IN CLASS. Went back down to financial aid who ended up sending the forms over 5 more times.

The calls continued until almost the end of the semester when FINALLY they sent a letter saying that I was granted the 'in school deferment'. Finally thought that this was all taken care of but no.

I have now started my next semester and the calls have started yet again. They claim that I am not in school, that I am delinquent on 3 months of payments and that they've reported it to the credit bureau. My school sent the forms over yet again, and yet again, Sallie Mae keeps claiming I'm not in school even though they just picked up my loan for this semester.

These people are incompetent to the point where they shouldn't even be doing business. Their customer service reps are rude, and threaten you while you're on the phone with them. Because of Sallie Mae, my credit is destroyed, even though I did what I was supposed to.

DO NOT go through Sallie Mae. They are horrible. They suck and they should NOT be doing any type of business.

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    Sallie MaeThey are terrible... go else where!!

    I recently finished school and was having some issues making the payments. They would not work with me what so ever. Therefore I got behind by one payment. I started receiving 10 to 15 harassing calls a day from them. I tried to get a deferment and/or a forbearance with no luck!!! I post dated a payment which the lady told me would bring every loan current ( I have 2 different private loans with them). Well here it is two days after the payment was due and they applied to payment to one of the two loans and they are calling ten to fifteen times a day. I call, and raised absolute hell with them, actually got hung up on twice...

    My advice use someone other that these [censored]es for any private loan needs!!!

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      • Mr
        Mrknowitall Nov 02, 2011

        If you stop being a lowlife deadbeat and pay your debt back in full and on time, you wouldn't of had this problem now, would you? You signed the agreement and now are shirking your responsiblity. They should harrass you nonstop until you pay up. It's time to stop being a little baby and grow up, and pay up.

        0 Votes
      • Sh
        Sheriff's Aunt Nov 02, 2011

        Hopefully my nephew will be able to assist in helping keeping this site safe from holligans like this. He's such a good little sheriff.

        -5 Votes
      • Sh
        Sheriff's Aunt Nov 02, 2011

        Watch your mouth sonnyboy!!

        -4 Votes
      • Ka
        Kay-law student Dec 31, 2011

        I promise to pay to ED all loan amounts disbursed under the terms of this MPN, plus interest and other charges and fees that may become due as provided in this MPN. The terms of this Application and Master Promissory Note (MPN) will be interpreted in accordance with the Higher Education Act of 1965, as amended (20. U.S.C. 1070 et seq.), the U.S. Department of Education's (ED's) regulations, as they may be amended in accordance with their effective date, and other applicable federal laws and regulations (collectively referred to as the "Act"). I must repay the full amount of the loans made under this MPN, plus accrued interest. I will repay each loan in monthly installments during a repayment period that begins on the day immediately following my 6-month grace period on that loan. Payments made by me or on my behalf will be applied first to late charges and collection costs that are due, then to interest that has not been paid, and finally to the principal amount of the loan, except during periods of repayment under an Income-Based Repayment Plan, when payments will be applied first to interest that is due, then to fees that are due, and then to the principal amount.
        ED will provide me with a choice of repayment plans. Information on these repayment plans is included in the Borrower's Rights and Responsibilities Statement. If I am unable to make my scheduled loan payments, ED may allow me to temporarily stop making payments, reduce my payment amount, or extend the time for making payments, as long as I intend to repay my loan. Allowing me to temporarily delay or reduce loan payments is called forbearance. We may give you a forbearance if you are temporarily unable to make your scheduled loan payments for reasons including, but not limited to, financial hardship and illness. You are responsible for paying the interest on both Direct Subsidized Loans and Direct Unsubsidized Loans during a period of forbearance. 
        ED may adjust payment dates on my loans or may grant me forbearance to eliminate a delinquency that remains even though I am making scheduled installment payments.
        I may prepay all or any part of the unpaid balance on my loans at any time without penalty. If I do not specify which loans I am prepaying, ED will determine how to apply the prepayment in accordance with the Act.  You must make payments on your loan even if you do not receive a bill or repayment notice. Billing information is sent to you as a convenience, and you are obligated to make payments even if you do not receive a notice or bill. Except as provided below for certain military borrowers, we charge interest on a Direct Unsubsidized Loan during all periods (starting on the day your loan is paid out). This includes periods while you are enrolled in school at least half time, during your grace period, and during deferment and forbearance periods. Therefore, you will pay more interest on a Direct Unsubsidized Loan than on a Direct Subsidized Loan.
        If you do not pay the interest as it is charged on either type of loan, we will add it to the unpaid principal amount of your loan. This is called "capitalization." Capitalization increases the unpaid principal balance of your loan, and we will then charge interest on the increased principal amount. 

        There are very important differences between government loans and private loans. If you take out a private loan, you will not be eligible for the same types of discharge, deferment and forbearance options that are available for federal loans.  However, some private lenders are now offering limited discharge options for private loan borrowers.  Sallie Mae, for example, has announced a disability discharge for Smart Option Student Loans.  The company will also forgive any unpaid balance if a primary borrower dies.    Wells Fargo announced a similar program in December 2010.  Some private student lenders also offer deferments and forbearances, but these vary by program.  Read your loan contract very carefully to learn about your private loan’s particular terms, conditions, benefits, rates, fees, and penalties. Private lenders do have to honor any promises they make about terms and benefits.

        0 Votes

      Sallie Mae — Fraud

      Sallie Mae tells you all the right things when you are in need of student loans but after graduation is a...

      The complaint has been investigated and
      resolved to the customer's satisfaction
      Resolved
      Sallie Mae Private Student LoanFees for forbearance, no help from customer service

      Sallie Mae is terrible--all of the agents with whom I spoke C40169, C40256, etc. told me that they did not have a designated customer service brach. Well, I checked the BBB wesite, and yes, Sallie Mae does have a Customer Adovcate Unit.

      Here is the information:

      Ms. Kelly Mahoney
      Customer Advocate Unit
      P.O. Box 4200
      Wilkes Barre, PA 18773

      [protected]

      I suggest that you get all of your ducks in a row before you call them: 1. get a sallie mae agent number for everyone with whom you speak, 2. document each converstation and the outcome of the converstation noting the agent # who gave you the information, 3. Send the Customer Adovate Unit a detailed letter outlining this documentation and your concerns, 4. Make sure you send the letter directly to Kelly Mohoney with, and this part is crucial, USPS restricted delivery mail (this ensures Kelly Mahoney receives and signs for your letter--and you receive documentation from the US Postal Service). Also, I think it may be a criminal offence if Sallie Mae declines your letter.

      I have been strugging with Sallie Mae for three months and this is the only course of action that works. Yes, it is time consuming, but I am convinced it is one of the only ways to resolve your issues unless you seek help from an outside source.

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        • Si
          sivka Jul 25, 2011

          I lost my job and I am trying to apply for forbearance until I get another job. I don't have money to pay. Sallie Mae are asking me to pay $150.00, so they can postpone my payments for 3 months. I asked to speak to supervisor, of corporate office. I was told that I am not allowed to contact corporate office and they don't have a number for them. I was told that corporate office doesn't deal with people like me.
          I wanted to reach english speaking representative, but I am getting those people with horrible accents and phony names. I am not sure if they are Indians or some other eastern country. I did not get any help from customer service.

          I have another private loan, who helped me to go on forbearance without any fees for 6 months or until I get the job. Sallie Mae are ripping people off. Blood suckers. How is it possible that organisation doesn't have corporate managet to talk to? And why Sallie Mae doesn't want to help people to pay off their loans? All I asked for was to give me a couple of months. I want to deal with it myself. I have cosigners and I don't want them to get in trouble because of me.

          0 Votes
        • Si
          sivka Jul 25, 2011

          I copied someone else's post under my complaint. I think this post will be helpful. I will try to reach some representative, but I don't believe that Sallie Mae will work with me to help me to pay my loans. I can't even talk to their supervisors:
          I lost my job and I am trying to apply for forbearance until I get another job. I don't have money to pay. Sallie Mae are asking me to pay $150.00, so they can postpone my payments for 3 months. I asked to speak to supervisor, of corporate office. I was told that I am not allowed to contact corporate office and they don't have a number for them. I was told that corporate office doesn't deal with people like me.
          I wanted to reach english speaking representative, but I am getting those people with horrible accents and phony names. I am not sure if they are Indians or some other eastern country. I did not get any help from customer service.

          I have another private loan, who helped me to go on forbearance without any fees for 6 months or until I get the job. Sallie Mae are ripping people off. Blood suckers. How is it possible that organisation doesn't have corporate managet to talk to? If someone knows how I can contact corporate manager, please let me know

          0 Votes

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        The complaint has been investigated and
        resolved to the customer's satisfaction
        Resolved
        Sallie MaeCrooked Practices

        Ah, college. If I knew you were going to cost me so much in the long run I just would have picked up a book and started self teaching.
        I came out of school owing Sallie Mae around $80, 000 and after I got a job I had to live at home since about 90% of my income was going to loans. It didn't take long before Sallie Mae started finding ways to mess with me. The way they got me was that my monthly payment days kept skipping around. Not a regular amount of skipping around but the instance that got me was my loan was due on the 29th one month and then on the 17th the next month. I called them to tell that because of the short time period I would not be able to make another payment so soon. "Well, if you miss the payment your interest rate will go up." At that time I think my payment was $70 dollars a month. Which was $20 more than my promissory $50 a month when I signed up for the loans, but I figured I was paying it off faster.

        Well I missed that date and my interest rate went from 2.5% to 17.00%. Well next month rolled around and of course I couldn't pay the now $1, 100 monthly payment they were asking of me. Especially since according to the date I had 3 weeks to pay it. I still had a crap job and there was no way. I tried to consolidate my 11 different loans, but they weren't consolidating. They did let me transfer $40, 000 out to Direct Loans at 4% (awesome). And after about three months of not being able to pay they settled with me and locked my payment dates to the 14th and lowered my interest rate to 7.25%. I'm guessing this was so I did not complain so much. This took about 14hrs of sitting on the phone to accomplish total. And there were several harassing phone calls. One customer service rep even called me an idiot for borrowing so much money when I couldn't pay it back. And yes, once the collection agency calls started I had people calling my house claiming to be old girlfriends or distant relatives, advising me to call and talk to them. I'm sorry if I don't want to talk to you 14 times a day.

        I have always found it funny that if Sallie Mae has to call me, I get someone who speaks clear English and has a nasty demeanor, but if I call them I get someone nice and kind but speaks such horrible English I can't get anything accomplished with them. It's the most frustrating experience with customer service that I have ever had.

        Today I'm complaining because for the last 4 months Sallie Mae has been overcharging me, on top of the regular nickel and diming me that goes on. I have one loan that is $9016.08 and an interest rate of 7.25%. Let's do the math here. 9016.08*.0725/12 = $54.48 for a month. They are charging me $90.08 this month. Which means another 2 hour phone call is ahead of me. Plus they've charged me two late fees on this because I have 1) missed to pay it, because my bill shot up $30 without warning and my auto withdrawal didn't cover it (which was fixed, not!) 2.) because it was fixed, they told me the amount I had to pay for next month over the phone, and then it was not fixed when I received my next lay bill. In four months Sallie Mae has stolen at least $190 from me. And there has been zero threat of rising my interest rate, which I thought would be their first trick again.

        This has caused me take a closer look at my bills. Despite always paying over my interest by $100 a month, sometimes my balance goes up. How? This is day 4 of trying to get this figured out. 8 hours on the phone with them, and I have made zero progress.

        I hope Sallie Mae gets no new clients and goes out of business. FAST. They are crooked, and are the seediest of companies that I have ever had to deal with. I have so many more complaints about them, but I think my point is made. It's horrible. It's an absolute atrocity . Stay as far away from them as you can. I would pay 10% interest on my loans if it meant not giving Sallie Mae another cent.

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          • Te
            TelemarketingHell Sep 30, 2011

            Holy hell, are you me? I swear this sounds just like me...graduated with almost $80K in debt, told the song and dance about $50 payments, sold to Direct Loans (sadly, only $21K could go). I guess you could say I had a crap job too...not a "go to work" kind of job, but freelancing. If I made more than $2K a year, I was lucky. Living in a small town with no jobs sucks a LOT, and Sallie Mae and their damn greediness is going to ensure I can never leave this town, never live on my own, probably never be able to work anything but under the table, never buy a house, never buy a car. They've screwed me and so many other people over. How they expected me to pay almost $600 a month when I made $1200 one year is beyond me. Yeah, I'll just go out to my money tree in the backyard and get some fresh hundreds for them.

            And they won't work with you at all because they don't want you to take longer to pay them - heaven forbid. They want their money right this second. I thought by going to college, I'd be a little better off having marketable skills. I'm so much worse off now that I've gone there and borrowed from Sallie Mae. If I could give back my degree to forgive the debt, I would in a second. Personally, my degree came from a crappy and overpriced school and it didn't teach me anything useful.

            I'd love to say just don't pay them, but they will rape you every which way financially. You go to school to better yourself and then they basically ruin your life and make you poor. People who deal with Sallie Mae will never have a life savings and with what I'm hearing about Social Security running out, no one will be able to retire ever. I'm sorry you've fallen into their trap as well.

            0 Votes

          The complaint has been investigated and
          resolved to the customer's satisfaction
          Resolved
          Sallie Mae Smart Option Student LoanWORST customer service experience EVER

          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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            • Bo
              Bob201 Jan 12, 2012

              I have spent hours on the phone with at least 5 different Sallie Mae representatives. Each of them was rude and obnoxious, None of them knew ANYTHING. And all of them lied about the deferment policies of Sallie Mae. Two of the five hung up on me during the course of the covnersation because they didn't like the fact that I asked them to explain their 'policy' which was absolutely in conflict with the signed loan documents.. In other words, they were committing fraud, . It's too late now to undo what is done, but my words of advice to anyone looking to get a student loan...STAY CLEAR OF SALLIE MAE! They practice fradulent business activities and should be shut down. And if they care to try to contest what I am saying here and accuse me of slandering them, I will merely produce the phone conversations that I recorded to document my horrendous experiences.

              1 Votes
            • Ch
              Channel61 Mar 11, 2013
              This comment was posted by
              a verified customer
              Verified customer

              Sallie Mae Smart Options are about the same as all the bad mortgage loans that were out there. The interest rate is higher, the terms are short and there are less/no options if you run into financial hardship. The customer service reps and managers will boldly lie to your face that there is nothing they can do. Keep in mind that the interest only payment during school and the 6 months after is going to jump dramatically. My son has two of these loans, the payment on one was $25 during school and went up to $330 six months after and that is only one loan. Parents BEWARE!!! Sallie Mae's helpful advice was to have Mom and Dad foot the bill.

              1 Votes

            Sallie MaeLiars and Have a Monopoly

            Sallie Mae is a monopoly and is behaving like the mafia and The Department of Education and the Office of the Ombudsman are absolutely worthless in helping us as students.

            Sallie Mae is so corrupt and evil that the federal government should put them out of business and put the entire corporate office in federal jail and make them work everyday to pay on every student's loans that they made and service until they are no longer alive as an ATTEMPT at punishment.

            They are the most incompetent evil, lying corrupt company EVER in the United States of America.

            Worse yet is they were smacked down from being able to lend and now they SERVICE every loan and YOU AS THE STUDENT HAVE TO DO BUSINESS WITH THEM IN A SOCIETY BASED ON CAPITALISM AND FREE CHOICE.

            You used to be able to pick your lender or servicer and now you cannot.

            IT IS A SCAM. the department of education does not give a [protected]@# about the students as if they did they would put Sallie Mae in jail for the amount of corruption they have perpetrated on the American student population.

            FACTS:

            They can CHARGE ANY FEE they want.

            you cannot declare bankruptcy on a student loan as of 2005.

            Sallie Mae sends me bills all the time with different amounts.

            Sallie Mae outsources jobs to India and you cannot understand one thing they are saying so you give up..that is their disgusting tactic.

            FACT: The ombudsman's office HAS ZERO AUTHORITY TO SMACK DOWN SALLIE MAE. do not waste your time there as they do not give a rat's ###.

            FACT: Not one sitting president will put the students first by allowing us to have consumer protections in place such as capping fees, imposing a statue of limitations on debt collection for student loans, in alowing student's to pay what they can afford as even with IBR the amounts are too high in relationship to the cost of living and low pay in this wretched economy..and bankruptcy is off the table now.

            Sallie Mae needs to go down and ANYONE who works for them too. How anyone with even one iota of a conscious can work for that ### company is beyond me and sleep at night. they deserve to go down the toilet with Sallie Mae as if nobody will work for those ### then they would go out of business.

            The staff who work for Sallie Mae are the most rude, incompetent, ignorant and totally worthless people I HAVE EVER DEALT WITH IN MY ENTIRE LIFE.

            Call the White House and CNN and post on Twitter and ask for an investigation into the corrupt pile of crap that is Sallie Mae and DEMAND consumer protections be put in pace for students for student loans.

            NEVER EVER TAKE OUT A PRIVATE STUDENT LOAN ESPECIALLY WITH SALLIE MAE.

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              • Do
                down with SallieMae May 27, 2011
                This comment was posted by
                a verified customer
                Verified customer

                SUBWAYWALZ: I concur. However why nothing is "new" in general..Sallie Mae..the evil company from hell worked hard to get consumer protections erased in 2005 when they stopped bankruptcy, and students have no consumer protections from a lifetime of debt pursuit with no statue of limitations until the day YOU DIE. Credit card companies and loan sharks are jealous!

                What is wrong with our country that an education creates a financial and personal noose so tight all quality of life is screwed?

                I am planning on using my vote to defeat the corporate scuz who want in office who take Sallie Mae money from the lobby machine (25 on the hill) and not vote for these craptastic people.

                Also..the more people inundate congress and the white house with complaints and use social networking such as Youtube, Twitter and Facebook and the CNN Ireport as tools the more chance we have as a student population to fight back.

                Apathy ### pie gets people nowhere..So I report DAILY on the scuz buckets that are Sallie Mae as I AM NOT APATHETIC.

                Plus if you default (loss of job disability etc.) all the progress you made on payments is lost. That should be [censored]ING illegal as hell. But the government and the media does not give a ###.

                Advice to all students: Realize what capitalize means..they add UNPAID interest to your balance you originally borrowed and that is your new BALANCE and they charge you interest on that. If you can pay the interest at all..throw something at it..it will help you when you go to repay that loan.

                0 Votes
              • Do
                down with SallieMae May 27, 2011
                This comment was posted by
                a verified customer
                Verified customer

                Sallie Mae sucks. period.

                0 Votes
              • Do
                down with SallieMae May 27, 2011
                This comment was posted by
                a verified customer
                Verified customer

                Nothing is new...subwaywalz..but what is new is that as of 2005 consumer protections were erased for students.
                Cannot declare bankruptcy
                No statue of limitations on collecting debt even when your 100 (7 years for every other debt)
                No limit to fees you pay
                If you default (loss of job sickness etc. disability) then every payment you made becomes worthless as the fees, interest and capitalization erodes that and this SHOULD NOT BE LEGAL.
                use every social network tool you have to spread awareness and do not vote for anyone who has Sallie Mae money in their pocket.
                I am not apathetic..please do not be either. Contact the media over and over until we have a story..

                1 Votes
              • Do
                down with SallieMae May 27, 2011
                This comment was posted by
                a verified customer
                Verified customer

                Capitalization for students who do not understand is this:

                You have a balance..lets say $40, 000
                Your interest "accrues" or adds up over 5 years
                Your new "capitalized balance is $46, 000"
                NOW Sallie mae can charge interest on that new amount.
                If you can..pay interest while in deferment or throw any amount at that interest..or else your hell will be increased like you cannot believe.

                Capitalization on interest on student loans should be illegal.. it is difficult enough to pay back what you owe with interest.
                Where the hell is the media on this story? Where is the government to put protections and limits on fees in a LIFETIME even?
                Use twitter, facebook CNN Ireport and you tube to get your story out and demand consumer protections be put back in place for student loans.

                0 Votes
              • Mi
                michaelamurray1 Jun 16, 2011

                Well, even though I owe around $30, 000 in student loans, it is a good thing that I turned down the Bachelor's Degree program at ITT Tech. Because if I did then I'll be totally sand blasted & financially murdered...REALLY! At least I have some oxygen to breathe on. I would be paying almost at the 6 figure mark. I do kinda regret going to this school, and dealing with the ruthless, hardship practices of Sallie Mae, but I AM NOT giving up. I will keep my head up and I WILL SUCCEED SOMEHOW! Talk to me.

                Michael M.
                [protected]@yahoo.com
                mikemurraymedia.blogspot.com

                0 Votes

              The complaint has been investigated and
              resolved to the customer's satisfaction
              Resolved
              Sallie MaeUsery

              My wife and I both have student loans. My original loan was $10, 000 which I paid on for several years only to find out that the interest on these loans is compounded qtrly which increases the loan. I’m now in default because I’m unemployed and we lost our home and Sallie Mae defaulted my loan because I could not come up with $1700 to bring it current and $460 per month for payments. My loan has not been sent to Texas Guaranteed who advised that I just need to pay $200 per month and my balance is now $18, 000, if no payment arrangements are made within 30 days they will add 15% to the balance for collection fees and the interest keeps accumulating. My wife had a loan for $7500 which the same issues are going on and the balance is now $33, 000. As far as I’m concerned student loans are legalized loan sharks because they are backed by the government. We wrote our congressman, John McCain, but that did not do any good. When your broke you are broke. They advised my wife that they will start wage garnishment. Go figure so they can take more of what you don’t have. If they are sued, please count me in

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                • Ma
                  MADDME Apr 15, 2012

                  Sallea Mae is THE MAFIA.

                  0 Votes
                • Ma
                  MADDME Apr 15, 2012

                  I can not collect from $85, 000.00 in child support due to me, but SM is quick to garnish my wages and send me to a collection agency harassing me daily..

                  0 Votes

                The complaint has been investigated and
                resolved to the customer's satisfaction
                Resolved
                Sallie MaeNo opt out option

                Sallie Mae has put this statement about the customer's telephone number at the update account information page when logged into their website:

                "By providing my telephone number, I authorize Sallie Mae, Inc., its affiliates and agents to contact me at such number using any means of communication, including, but not limited to, calls placed to my cellular phone using an automated dialing device, calls using prerecorded messages and/or SMS text messages, regarding any current or future loans owned or serviced by Sallie Mae, Inc. its affiliates and agents, even if I will be charged by my service provider(s) for receiving such communications. By providing my email address, I authorize Sallie Mae and any affiliates to which it shares this email address to send me commercial messages at such email address."

                Yet...there is no way to disagree or opt-out. You have to provide a telephone number. Sallie Mae is out of control in my opinion.

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                  Sallie MaeFinance fraud and abuse

                  Sallie Mae promised in writing, 4% interest, actual interest is 8.5% with no reduction available. No help available from any source with this issue.

                  Private loans for both students are paying interest with increasing balance for Sallie Mae's interest bearing accounts. The graduates are drowning deeper in debt while Sallie Mae pulls in the money for their employee and manager bonuses each year.

                  Sallie Mae refused to send the proper deferment form, only good for a total of three years maximum, instead sending me the economic hardship form twice, rejecting the form because I do not have documents required. Hello, I do NOT have two recent pay stubs because I am long-term unemployed.

                  I finally got the correct form, sent it back, received a payment due for one of the loans, and a letter stating their payment policy.

                  I have requested a formal congressional inquiry into Sallie Mae's fraudulent use of funds for personal gain. The students and parents who are forced to use Sallie Mae's funding for "higher" education lose in this plan.

                  I am thoroughly disgusted with the way Sallie Mae has ruined the low interest payment plan especially since all the loans go through them now as Department of Education wants.

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                    • Ka
                      Kanna21 Sep 03, 2011

                      I didn't know much about this company before I got involved with sudent's loans. Now I can completely agree with the autor of this comment. SallieMae is very greedy...

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                    Sallie MaeGouging 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 MaeLying 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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                        • Wi
                          wishlightforyou Jan 22, 2011
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                          a verified customer
                          Verified customer

                          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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                        • Wi
                          wishlightforyou Jan 22, 2011
                          This comment was posted by
                          a verified customer
                          Verified customer

                          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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                        • Wi
                          wishlightforyou Jan 22, 2011
                          This comment was posted by
                          a verified customer
                          Verified customer

                          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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                        • Wi
                          wishlightforyou Jan 23, 2011
                          This comment was posted by
                          a verified customer
                          Verified customer

                          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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                        Sallie Maereps 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 MaeCo-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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                            • Be
                              Benjoh Dec 18, 2010
                              This comment was posted by
                              a verified customer
                              Verified customer

                              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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                            • Bo
                              Boomer 12 Jul 18, 2011

                              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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                            • Jo
                              Jon Kanders Jun 04, 2012

                              "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.

                              1 Votes

                            Sallie MaeLoan 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 — Company is in FEAR

                              The supervisor in Sallie Mae: Allen employee #C52057, Chris #C36515, Richy #C36013, and others are in FEAR to...

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                              Resolved
                              Sallie Mae - Student LoansCredit 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 MaeLogin 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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                                  • Gr
                                    greg(i)n Oct 04, 2010
                                    This comment was posted by
                                    a verified customer
                                    Verified customer

                                    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.

                                    0 Votes
                                  • Da
                                    DantheMan21 Oct 01, 2012
                                    This comment was posted by
                                    a verified customer
                                    Verified customer

                                    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.

                                    0 Votes

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                                  Sallie Maeunsubstantiated 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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                                    • La
                                      Lawschoolsucker Nov 06, 2013
                                      This comment was posted by
                                      a verified customer
                                      Verified customer

                                      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.

                                      0 Votes

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