Complain about a product or service

Sallie Mae

Alicia of Gautier, MS November 19, 2008

Alicia of Gautier MS (11/19/08)
I am a single working mom. I often attempt to make multiple payments to my Sallie Mae student loan. Over the last two years I have recieved phone calls or reports to my credit that my account was delinquent. Multiple payments are not being posted to my account correctly. I have called and emailed requesting that a hard copy of my account history be mailed to me, however, I have yet to recieve anything in the mail from Sallie Mae. All I want to do is pay this loan off, however, because they post my payments incorrectly, I never will.

I have requested that a new coupon book be sent to me so that I could keep up with the history of my payments better, but then they don't send the coupon book and when I send in a payment with no coupon, it makes me even more suspicious of how my payments are being applied. I see lots of other complaints identical to mine on this site, but I fail t see any answers. Please advise. I can't win.

Numberous phone calls regarding delenquency. This is causes unwanted and unneeded stress in an already stressful economic situation. My credit is all that I have and they are ruining it.

Mary of Buena Park, CA November 19, 2008

Mary of Buena Park CA (11/19/08)
In 1997 I applied for DeVry. I was told I could apply for a Federal loan. I attended DeVry for four semesters. I suffered a nervous breakdown due to my mother's health and dropped out. I was told I had borrowed 9,916.86. The loan was through AFSA POB 7051 Utica, NY 13504-7051.

I filed for bankruptcy in 2001. I was contacted by a very arrogant male from Nevada. We have you No bankruptcy can protect you I contacted the individual. I allowed this as I know a bankruptcy doesn't protect you with Federal loan. I agreed to pay this. In addition, I was told this was a Federal loan from a Devry counselor.

I began making electronic payments of 200 to a USA Funds for a student loan. My bank has all this information in 2002. I made these payments for approximated two years. I was then told I would no longer be electronically paying this and the original loaner would be taking over. I never found out who the loaner was. I thought it was AFSA.

Anyway, I have been making payments of 80 to Sallie Mae for over five years. I still owe 9,200. In all these years I have paid a little over 700? I have contacted them and told them I need to get to the bottom of this. I read recently, they buy student loans and then double them. All these money handlers. Almost like loan sharks.

My concern is that this amount is not going down. I figured that at 200 per month to USA loans should alone have covered money for interest. For one year should equate to 2400. That would bring the loan down to at least 8000. Now paying 80 per month for even three years should bring the loan down to 7000.

They claim they are charging %5.3 interest but this can't be. I still owe 9,213. I feel as if I am going to be paying 80 per month, possibly even more and will never even make a dent in this. I need some sort of legal help in this matter. I have been taken for over 3000, this should have taken some off this loan. I went for four semesters. AFSA was on my bankruptcy papers. USA loans found me through them.

Russell of Chicago, IL November 19, 2008

Russell of Chicago IL (11/19/08)
I borrowed money sometime back to go to school. I also used my grandmother as a cosigner. We both have done everything within our power to make payments and make everything with Sallie Mae current. I have paid small payment having them deducted automatically from my account each month. I have paid numerous forebearance fees. Sallie Mae will not stop calling and when they do call they are so rude.

I hang up everytime in tears and it makes my grandmother a nervouse wreck. When borrowing the money I never imagined that the economy would be in the condition it is in when it came time to pay back. Today they called and I spoke with 2 supervisors that proceeded to tell me what I loser I am and one even called me a dumbass.

I can't pay the 1800 they want per month...I offered a payment but that was not good enough so the supervisor on the phone says to me then you are refusing to pay and we will put these in default.

I can't sleep or eat becasue of the stress of Sallie Mae calling me. It bothers me more that they will not leave my grandmother alone. They start calling by 8AM and call all day until about 10PM. This will destroy both of our credits.

Latippinea of Orlando, FL November 19, 2008

Latippinea of Orlando FL (11/19/08)
During my years in college 1992-1994 I secured student loans from Sallie Mae. After completing school and paying on the student loans (off/on); I decided to return to grad school to obtain my Masters degree upon entering my college of choice, I was made aware of Direct Loans (government agency that gives student loans at a very low interest rate). I immediately took advantage of this opportunity, quickly completing my application to transfer my student loans from SallieMae to Direct Loans and to utilize Direct Loans as the current lender for loans to return to school.

The process went well - I never heard anything negative from SallieMae until 09/12/08 when I pulled a credit report (yearly) check and noticed that SallieMae placed a bad debt charge on my credit report (1st timer ever) which, was during the time the transfer had taken place. I telephoned SallieMae and questioned them about the legality of this incident.

I made them aware that this was recently placed on my account and is inaccurate. I requested they do an investigation to verify this claim. The gentlemen stated to me that I must prove to SallieMae this did not occur.I am appalled that a company (anyone) can legally falsify claims against others and there be NO consequences. I have tried everything and have not been able to obtain cooperation in this matter. I hope that someone can shed light as to the answers/steps in correcting this!

My credit is reuined!

Mike of Scottsdale, AZ November 18, 2008

Mike of Scottsdale AZ (11/18/08)
Upon the urging of my school and Financial Aid rep. I applied for a loan consolidation...I don't know...4 years ago in order to qualify for a lower interest rate (4.5%). All three applications were ignored by Sallie Mae. I did finally get one at 8% after graduation and owe in the neighborhood of 25k to Sallie Mae And sold the other 50+k debt to another company because SM is so screwy.

I make all of my payments on time and for additional toward the principle every month. (ON THEIR SECURE WEBSITE)I made an electronic payment in Sept '07 for 200 and for some reason it did not go through. So in Oct '07 I made a payment over the phone for 400. It has been over a year now and Sallie Mae still refutes that they ever recieved any payment or that they returned it...Why would they return it? They didn't! I have provided proof of that payment numerous times through multiple different avenues...including three way phone calls with my bank, faxes, emails, certified mail.

My bank is now disputing this through the Feds because they know that Sallie Mae recieved the funds. There is not one part of this story that is a good reflection of their business practices. I have done my due diligence to prove my payment and I want them to get out of the racquet of loaning money before my kids end up having to deal with the same BS.

14 Months of late fees, additional interest charges on money I paid, risk on my credit report, risk on my co-borrowers credit report, 15-20 phonecalls every day for more than a year, including my cel phone, well in excess of 160 hours of my own time gathering data and providing the proof to sallie mae...and waiting on hold, stress to a level that put my girlfriend(co-borrower) in the hospital for two weeks, complete lack of faith in the system, and a intimate understanding that Sallie Mae does not care that they are breaking the law.

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