Sallie Mae Bank review: Student loans 52

STOP PAYING.

F*** SLM and NILNET.

PAY NOTHING.

Wait for the defaults to start rolling in, then you get to deal with Dept of Ed, not SLM. They'll waive ALL the interest and you pay only the principle. Cut the deal for NO INTEREST, then tell them that you'll have to make payments. Arrange the highest payments that you can afford - if you have a job. You'll be allowed to pay it down without being socked for all the SLM fees that they rolled into your loan!

If you don't have a job, there's no reason to pay at all. Let it go and let them send collectors after you. I did that for almost 10 years, then came into a little money and paid off the PRINCIPLE only. I never paid much in interest at all.

Another option is to simply leave America. I'm doing that as soon as this last job ends. I can get work in almost any other country, but not here. Get citizenship elsewhere and let America die, because you're living in a FASCIST STATE.

Corporations like SLM have full control of Congress. What you and I might want as citizens means nothing to Congress or the President.

Cant stand sm, I request for a forebearance but they refused to give it to me. Ive been unemployed for more than 9 months and debts is on my ###. On jan or feb, I spoke to a reps and recommended me to apply for moneynow.com little that I know, they've been over charging me monthly while i was employed. that moneynow.com is the bs ever. i did receive money just that one time but i still gotta pay more than what i just receive which was1500. I also try to make an aggrement with sm but as always they refused to listen, asked if my family or friends could help me with money, what's their name, address and social security. They wont shut up until they get what they want, unbelieveable how they want the money upfront at that min. They also make me feel like crap. Like this rude guy told me how he work so hard to pay his debt how he had to ride a bike for miles to save money, why did I even thought of going back to school if I wasn't planning on graduating, or how long im planning on staying with your parents, and how they going to file a suit. I'm really sick of it, they have damaged my credit, and mentally, spiritually, and physically abuse by their reps (when I get really stress my body lose appetite and most of the times I starve without realizing.) please lets put a stop to this. is not right how they're threating loaners like us with hardship economic

I had posted previously about this company but I have another complaint that I think should be brought to all of your attention!

I got behind on two payments with my Private Sallie Mae loan in 2007, during that time my loan was sent into default and I was deemed Delinquent!

I no longer deal with the Sallie Mar representatives I have to speak to Allied Interstate which is a company that Sallie Mae hired to collect their debts and payments.

In july of this year my husband and I had some extra money, we paid $2500.00 on my loan trying to get ahead. That brought my monthly payments lower! I was paying close to $500.00 a month and now I pay $200.00.

I was told in January 2008 after my loan payments had been caught up well over six months that the credit bureau would be notified and I would not have a bad rap on my credit report. I have not missed another payment and each month Sallie Mae reports that I am in "Bad Debt" with them?

I have tried to call Sallie Mae about this and I can't ever get to a real person!

In the last month I have tried to call the number that I have for Allied Interstate to ask them about this nonsense and their telephone numbers are out of SERVICE!

SO who am I PAYING each month? Where is my money going, I have paid over $7, 000.00 of my $12, 000.00 borrowed and I have no clue where my monthly payment is going because I can't get through to anyone on the phone!

I am so frustrated! Please someone tell me that you are in the same boat? Or if anyone has a number to a LIVE person for Sallie Mae that would be great!

Thanks!

Ironically, all Universities have a "Grievance Procedure" for students to follow (usually within a specified time frame of 30 days from incident), yet if you follow their own protocol, University Administration doesn't comply with their own procedures. Even though the grievance procedure instructions state that no retaliatory action can take place once the process has begun, the student DOES get retaliated against. Let me explain-first you have to write a letter of your grievance to the Assistant Dean of your Dept. so that hopefully, he can speak to the Dean and resolve the problems. This is where retaliation begins as once you are appointed a meeting time you will face provocation by being given the "run-around"- do this or do that; you haven't done this or that; or you did this or that (accusations). Once you have attempted to get a resolution with the Dept Head (Arts & Sciences, Engineering, HSS, whatever) then the student must continue the Grievance process with the Dean of the University, but unfortunately get the same results. What happens next is that rather than find yourself invited to a "Student Appeal Hearing" to have an unbiased panel of judges (3 staff and 3 students); you will find yourself invited to a "Student Grievance Committee" accused of violating the Student Code of Conduct. Truthfully, in writing, violations of this Code means cheating, stealing tests, taking instructors workbooks, ect. (an OCR complaint would be that "The University failed to make accommodations for your disability that you requested"). Student Code does not mention getting provoked by the Administration for trying to have your student civil rights! What it comes down to is that you better carry a voice recorder and camera at all times to gather evidence to prove the harassment you will receive from the Administration once you voice a grievance against the university...or it's your word against many Professor's words! Let me give an example of why you need a voice recorder or a camera--being called out of the class to be told they have switched you to another course without your permission (Office of Civil Rights tags this violation as "being treated differently than other students"); being told by the Dean of your Dept, "If you don't like it here, then why don't you just go somewhere else; after all you are brain-damaged aren't you?" (OCR complaint that "There was a hostile environment at the University toward you where University staff and professors made fun of you because of your disability"); and how about the Director of Disabilities ordering you out of the office by physical assualt on you-video cameras should be located in this office, but the university claims to not have evidence! Then your documents start missing out of your files that prove you did submit requests for accomodations even though the Director lies about it!

Whatever the outcome is with your "Greivance Procedure" whether for the good or bad; the student can choose to next file an "Appeal with the Federal Dept of ED (listed under Office of Civil Rights on the web-"Grievance Form and Consent Form) NEEDS FILED WITHIN 180 DAYS OF INCIDENT! Be sure to save all documentation, witnesses, evidence, and Proof of Receipt per certified mail. The Dept of Ed will close you case claiming you did not file your appeal in time if you do not have the PROOF OF RECEIPT. Because even though you mail it before the 180 days, they will claim they didn't receive it within the 180 days (but don't expect the same restrictions from themselves because you most likely won't hear from them for a year after persistly sending certified letters, phone calls or emails; only to find out they closed your case)! So far I have done all of the above, but have no money for an attorney to make sure that my Civil Rights Attorney from the Fed Dept of Ed provides the Services promised! A private attorney won't take the case on contingency unless you have all ready done all this civil law yourself for a couple of years while waiting to get some kind of results; an attorney wants you to have already gotten the OCR to find violations against the college.

To sum up this whole process, I will just inform you that complainants (students) must be expected to perform as their own civil law attorney if you aren't rich or cough up the money. You must also be expected to successfully complete a full load of upper course work while working full time as an attorney and corresponding with the Dept of Ed while getting the run-around constantly. The Dept of Ed claims that the university can't retaliate against you during the Federal Appeal process, but let me clarify that so far I and other 3.5 to 4.0 GPA disabled students or Master's program students have already lost our jobs (OCR complaint "I was removed from my job based on my disability"); denied access to our courses; and if reinstated back into the university must endure constant harassment and accusations (so need a support group and constant companion, voice recorder, and camera). You will most likely only get acknowledged or some justice if you are rich or have connections with influencial people for the reason the "Laws are for the poor, but Justice is only for the social elite!"

Even though I offered the Fed Dept of Ed "proof of receipt" of my second Appeal (because the denied the waiver for reconsideration on my first appeal). They are claiming that that one wasn't filed in time and keep shoving the Case # which only applies to my first appeal. When I ask them for the Case # for my second Appeal; I just don't get an answer but advised to go through a Reconsideration for the seocnd appeal which was filed in a timely manner; BUT NOT GIVEN A CASE # for that separate case!

Finally, once I am again denied reconsiderations (without the reasons documented and mailed certified to you as legal documents should be); then you can file a complaint with these Depts:Complaints of title II violations may be filed with the Department of Justice within 180 days of the date of discrimination. In certain situations, cases may be referred to a mediation program sponsored by the Department. The Department may bring a lawsuit where it has investigated a matter and has been unable to resolve violations. For more information, contact:

U.S. Department of Justice
Civil Rights Division
950 Pennsylvania Avenue, N.W.
Disability Rights Section - NYAV
Washington, D.C. 20530
www.ada.gov

[protected] (voice)Department of Education Press Secretary John White, concerning the complaints that you filed with the Department of Education’s Office for Civil Rights (OCR)

SALLIE MAE SUCKS BIG D***! I HATE THAT COMPANY SO MUCH! HOW DO THEY KEEP GETTING AWAY WITH SCREWING PEOPLE OVER. ALSO TO ADD SOMETHING NO ONE HAS TALKED ABOUT YET ABOUT SALLIE MAE. WHY IS IT THAT WHEN YOU CALL THEM YOU ARE TANFERED TO SOMEONE FROM ANOTHER COUNTRY. TALK ABOUT NOT SUPPORTING THERE FELLOW COUNTRY. MAYBE IF THEY GAVE ME A JOB THEN I COULD PAY THEM BUT THEY DECIDE TO TRANFER YOU TO INDIA. HMMMM FU*kED UP!

They need to explain the terms and conditions better... hmm
More like people get a student loan and they don't read the "fine print". Its called a promissary note for a reason. It lists all the specifics related to your loan. I work for SLMA and the type of loan you are referring to doesn't have any loans at 23% interest. The highest career training loan I have seen was 13% INTEREST. Within the last few months we have rolled out different programs. If your loans hasn't defaulted already I would advise you call in and see if your eligible.

I got a "Private Loan" from Sallie Mae in 2006, from a local cosmetology school. The loan was for $12, 000.oo My now husband cosigned for me due to the fact that I was only 18. I was never once under the impression this was a PRIVATE LOAN, if it were stated in the contract it must have been in the smallest print that I couldn't read. After my 1 year of NO PAYMENTS, that I actually paid at least $50.00 towards the loan each month, I started paying the $300.00 payments, when we ran into some financial hardships, we looked to SLM for a Forbearance. We went through the entire process, hand written letters, pay check stubs, and tireless phone calls each day. We couldn't afford to make payments for 6 months, we were under the impression that we had gotten the forbearance because we never heard otherwise, and the associate we dealt with actually told us we were accepted! After 180 days of NO PAYMENTS, the Collections department contacted us, apparently we did not get the forbearance, and had missed 6 months of payments. We were no DELINQUENT, and with a private loan at SLM there is no Re-Financing, no forbearance, or deferred payments. We were so far behind, it was impossible to get ahead. We were able to pay $50.00 each month until they would not allow it. They have recently offered a settlement for $9, 000.00, as if I have that in my checking account ready to hand over. We can't even get a loan for $4, 000.00 to replace out leaking roof! Sallie Mae has ruined our credit and my life! I don't know how we will ever get ahead in this life, when we are paying 23% INTEREST! That should be illegal, and do they really think a Hair Stylist makes enough money to pay $600.00 payments? Get Real!

They need to better explain the terms and conditions of their loans! They are a horrible company!

Thank you for your post. I'm in the exact same position you are in. If there is a lawsuit, definitely let us know. Sallie Mae is the devil, and Full Sail is in bed with him. I have been doing everything I can to try and afford my loans, when in fact, all that I'm doing is falling further and further into debt. Every time I give them money, I feel I may as well be throwing it into a fire. I graduated Full Sail in 2005 with a loan of about $65k which is now around $90k thanks to the forbearances I've had to file. The money isn't the only problem. Now my credit is totally screwed up, and Sallie Mae won't stop calling and harassing not only myself but my parents too (who have absolutely nothing to do with the loans). They even called me at my place of employment wondering when I was going to pay them. There has to be something we can do to stop this madness.

When I went to LSU for two years, my loan payments after leaving were around $70 a month. I figured after going to a two year technically college, my loan payments wouldn't be any more than a couple hundred dollars a month. To my surprise Sallie Mae was asking me for about $1200 a month. I could buy a home for less than that. Then they 'worked with me' to drop the price so that I was paying only interest (which basically means I would never pay them off) at around $900 a month. How the hell am I supposed to support my wife and three children when I would have to give Sallie Mae this kind of money? The answer is I can't. So far they have not been paid in a very long time, I've cut my phone off, and the only communication I have to the outside world at the moment is my email address. I imagine they will try to sue me at some point, but good luck squeezing blood from this turnip is all I have to say.

I graduated in 1995. I started teaching full time in 1997, and still teach today. After some irresponsibility by me, and some unfortunate personal setbacks, I have let my loan go into default. After my divorce, I really couldn't afford the repayment. I payed up until my divorce, and used up all my forbearance, which of course ran my total up astronomically. There was nothing that could be done, and finally SM sent my loan to the Department of Ed. I was threatened with many, many letters about garnishing my wages. My initial loan amount when I graduated was $25K, and now, my amount is close to $80K.

Why didn't they garnish my wages way back when, when I was just being irresponsible? Instead, they let it go, and now the loan is more than doubled. Hell, if I couldn't pay it then, what makes anyone think I can pay more than double now? I swear this is a scam.

I know what I have done with this loan is not right. I take responsibility for my inaction's with this loan. I was paying when i was previously married, and then used my divorce as an excuse to forgo my financial responsibilities. I will pay back what I can, and have started doing so. But my question is why didn't they start garnishing a long time ago, and maybe if they did, a lot of this loan would be paid off by now. Hell, i was too irresponsible to pay it, the government or SM should have just started doing it.

I tried to file for another forebearance because this economy really sucks but the customer service won't give it to me then she transferred me to her supervisor who tried to hustle me for my father and relative's name and information for assurances that I will not default my loans again. I told her my father has liver cancer from working in clothing factories and is on food stamps now. He barely have enough in his savings. I told her no one co-sign my loans, I went to Full Sail University at Winter Park, Florida to get a 2nd BS (boy was the school full of BS) because I wasn't happy with working in temp agencies after getting my first Bachelor. But the woman supervisor wasn't even listening. I told her again my father is on food stamps. And she said, "Did you say uncle gonna help you? And what about your mother and father? $200 from her, $200 from him, and your friends? I need assurance, what are their names, phone numbers and Social Security Numbers?"
I refused to give either, I told her I just needed a few months more forbearance and I am willing to pay another $150 again in money order.
And she asked and yelled in the most demanding and sarcastic way, "Where and who are you getting the money from?" "Hey are you trying to hang up on me?" "Don't you dare hang up on me, we need to talk about it now, not later!"
I told her there is nothing I can do about it now, I am unemployed and I was like fine if you want to put me as delinquent, put me as delinquent. She was shouting at me on the phone and belittling me to make me feel so small.
I also asked if SallieMae has been harassing my next door neighbor whom I barely know, who is not a co-signer. And she just played this sarcastic innocent game denying everything.

I spoke to a friend of mine about it. He pointed out, Sallie Mae is doing something illegal when they call up people who are not your co-signer nor references. That means, they are giving my personal information away all for greed and endangering my identity of being stolen. And technically, my neighbor can sue them for harassment.

He also pointed out, that I should consider calling the Attorney General of my state and Eric Holder and tell them about the illegal practices of Sallie Mae so the government can step in and investigate and hopefully break apart the company or shut it down.

TO EVERYONE WHO IS READING THIS. PLEASE CONTACT YOUR ATTORNEY GENERAL OF YOUR STATE AND ERIC HOLDER IN CONGRESS and register with
www.fbi.gov

I want my apr lowered and I want that company to shut down. I posted up the SallieMae practices and how it work with Full Sail University so closely on cgtalk.com and the school told the administrator to delete the whole article because it was bad for Full Sail University's business. Where is the freedom of speech?

Everyone please contact your state's attorney general and write to congress. No one listens to you if only 1 person complain, but if alot of people complain about the same company, they will look into it. I hope the government can nationalize the banks and force SallieMae to lower the interest rate.

www.fbi.gov

I am right there with you. I graduated 12.20.08 and my loans went to repayment as of 12/16/08. I get 8 calls a day from SM from different numbers. Every time i speak with a rep. I get a difference answer and i have to explain my issue all over again. I have asked to speak with a supervisor, but to this date i have not been able to do. I should be on my grace period. I have SM and the stress they have put on me.

Oh man, I want to sue the pants off these guys!
I enrolled and attended Sullivan college for 1 semester. The financial aid guy told me all my paperwork and everything went through, it was all fine. At the end of that semester, they witheld my grades. When I asked what the prob was, they said my loan was rejected. They wanted a co signer. After 5 co sign attempts, they kicked me out of school.
Now, I have the school calling me every day wanting $3500 and Sallae Mae calling wanting $4500!
If my loan didn't go through, why the hell do I owe anything?
It's all a huge scam!
I'd like to get us all together and sue the ### outta them. They did this to 4 other people I know too!
I just can't believe it, I'm screwed.