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Sallie MaeHigh interest rate and taking money


Sallie Mae loaned my son the first loan at 3.25% interest that lasted for 3 semesters. When we applied for $4700.00 with me as a co-signer with an excellent credit rating, they upped the interest rate to 11.25%. Which he will own $14, 700.00 for the $4700. They are getting federal assistants but are charging uncalled for interest rates. DeVry where my son goes only offeres Sallie Mae and signs people up as quickly as they can.

In July I paid the $4700 note off. Now I just have the one loan that I co-signed but when I sent then $300.00 in August they didn't apply the money to the loan that my name is on. I have called and e-mailed them about this problem and they say they will get it fixed but so it will be November and nothing yet. I told them that they cashed my check for August and took the money but didn't apply it to my only account. Now they want me to send them a copy of the check both front and back.

This is not a bank this is some kids playing at being a bank and causing problems with a lot of peoples money. The government needs to step in and straighten this problem against the America people out.

High interest rate and taking money
High interest rate and taking money
High interest rate and taking money
High interest rate and taking money


  • Mo
    Mona Feb 08, 2010

    I feel your pain I have three loans one at 13.25% and the other two at 10.25% I'm looking into a lawsuit against ITT TECH for entering my heritage as Caucasian instead of Hispanic in the application loan process and I'm going to sue Sallie Mae for the automated harassing calls.

    Regards and good luck,

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