Complain about a product or service

Sallie Mae

Pam of Akron OH (05/15/08)
My fiancee had a major heart attack 3 weeks ago, he has been in intensive care ever since that. They are inserting a pace maker and a de-fib in hopes to get his heat regulated. Sallie Mae has called demanding to know who is taking care of his affairs, who has power of attorney to make the payments. No compassion what so ever, no understanding, all they want is their money, not caring that the man was on his death bed at one point. It is horrible how they treat ALL the people who intrusted them. Just tack on late charges, interest payments and make harrassing phone calls.

I urge everyone to contact them in one form or another letting them know about this site. I would love nothing more than to send this to them. We got a $2,000.00 loan and you would think we owed them a million dollars. NO ONE should ever take a loan from them and everyone should encourage their friends and family to stay away from Sallie Mae.

The harrassing phone calls did not help my fiancee's health at all..They are heartless and could care less that he is in intensive care. Yes, we are behind, but with the economy the way it is, my fiancee on total disability and only receiving SSI, he is in no condition to be harrassed when he does come home rom the hospital..

Alan of Santa Ana CA (05/14/08)
I had borrowed only one student loan with Sallie Mae. I paid off the loan 2 year ago. Before Sallie Mae have the direct deposit feature, i used to write lum sum check to Sallie Mae 10 months/check so i don't have to keep track of it every month. One time i wrote a 3 month lum sum check, Sallie Mae disregard my options and make it only months. ( this is 9 years ago).

Last month, i was trying to get a mortgate loan, my credit report popped up 2 degratory Sallie Mae account and 4 good Sallie Mae account. The degratory account have 90 days late with note ( account transfered). 4 good accounts are not over until 2017. I called Sallie Mae 3 times but all of the people i talked to, decline to help. They told me that i need to dispute to the bureau credit. I paid 39.99$ through Experian but Sallie Mae declined to correct their fault. Now i'm stucked in this hard place. I saved enough money but i can't buy a house because of bad credit. I feel so helpless because it is so hard to fight against the system.

Evidently, i have paid off my loan. I have only one student loan. But sloppy report from Sallie Mae lead lender to believing that have not paid off the degratory account ( transfered account). My credit was from 780 down to 667. I could not get a mortgate loan. I lost 5000$ deposit on escrow. I can't buy a house.

Deandra of El Paso TX (05/14/08)
I received a notification from Equifax on 5/9/08 that my credit score had changed. When I went to the site, I was shocked to see that my credit score plummeted by 67 points due to a derogatory reporting by Sallie Mae on my student loan. I was and still am in shock; I have worked so hard to improve my credit score over the last few years and was preparing to purchase a home. I emailed Sallie Mae through their Contact Us link on 5/10/08. I then called the 800 number on 5/13/08 only to be transferred to someone who I could not understand very well; he seemed to be reading from a scripted response.

What I did gather from the Representative as that Sallie Mae inadvertently made a coding error just this one time for any account that had a reduced payment plan; they were all coded as delinquent, but the problem would be resolved as soon as possible. They also coded my account with a new account number, and as making partial payments. I checked my email later on 5/13/08 and had received a response from Sallie Mae instructing me to send them a copy of my credit report as credit problems could not be handled on-line. My response email was not nice and I informed them that I would report this to every organization that I could until Sallie Mae corrected their ways. If it were not for the services of Equifax, I would never have known of this injustice.

To date, Sallie Mae has not notified me in any way of their coding error; if I had not contacted them, I would never have known. I informed Sallie Mae in my email that as a consumer, I am expected to be financially responsible in the use of credit and I expect them to be held to the same standards. If I defaulted on my loan with them, I am sure that there would be a little more urgency in your resolution plan. I further informed them that this is an urgent situation to me, and I do not appreciate being instructed to unworriedly write, mail, or fax documentation for something Sallie Mae not only did, but also is fully aware of. What I do expect is that the information submitted on my credit report be corrected expeditiously, not as soon as possible, or in the next reporting period.

The damage is astronomical. No one will provide someone with credit where my numbers are now, and the score is not correct but my creditors do not know this; all they see are numbers. Also, variable credit rates are tied to my credit score; I cannot imagine what is going to happen to all the hard work I have done. Regardless of whether I purchase a home or not, my credit score is now in one of the lowest categories. I am stressed, upset, and worried about the consequences this will have on my life. What makes it so bad is that Sallie Mae seem to they could care less about what has happened to me and apparently many others.

Shannon of Baltimore MD (05/13/08)
My husband and I had a small computer training loan from Sallie Mae in 2002. It had deferred payment for three months. When I received the first statement I called for the payoff amount and sent a check for the full payoff. Fast forward to April 2008 ... we start to receive letters and start to be harassed by phone calls saying that we owe $445.00. We called customer service (all 15 phone numbers and departments we were given and transferred to) only to find out they had applied my $11,000 payoff toward future payments. The negative balance accrued interest for six years. We had no correspondence or statements the entire time.

When we call to get help we are constantly hung up on and transferred to different departments. Most often times we are sent right back to the main phone number. We have faxed the cancelled check. We have been told to wait for a letter, and all we get are delinquent statements. Is there a class action law suit. This company is a scam and inherently why so many young people are worried about their future and the future of this country.

Michelle of Beverly Hills CA (05/12/08)
I recently was alerted by a credit score watch service that new derogatory information had been reported on my credit reports. As I am applying for my first mortgage loan, I knew that my credit had to be nothing short of stellar, so about three years ago, I began paying big chunks of my income and savings to pay my Sallie Mae Student Loan accounts down, if not pay them off entirely. To pay these loans down, I did not go on vacations, I scraped and I sacrificed.

When I graduated, I owed nearly $74,000 in student loans. Right now, I owe about $14,000, which is still alot, but I now feel that I have a good shot at paying it off and getting a good interest rate on a mortgage (or at least I had hoped.) Low and behold, when I got my Equifax credit report, Sallie Mae had added a notation on my credit report arrangement made with credit grantor to make partial payments. Apparently this comment/notation caused Equifax's computers to go berserk and my student loan account is now being reported as seriously delinquent and the ENTIRE LOAN amount is showing as past due. Yes, the entire loan balance is showing as past due, not the monthly payment of around $165. This is, of course, a joke, because I have been making larger than required monthly payments, aggressively paying down the principal. The account, according to their own website, is even in a pre-paid status, with the next payment due on April 2009.

I immediately called their 800 customer service number. I asked to speak with a customer service supervisor. She told me to fax her information, including copies of my credit reports, showing the drop in my credit score (my credit score dropped 110 points). She promised to return my call. As of this writing, I have not received a call back.

When I call their customer service number to attempt to confirm receipt of the information she requested that I fax, I am told that I cannot speak with this person, but that another supervisor can help me. I then have to explain the situation all over again. It is beyond comprehension to me that Sallie Mae can harass and call someone who is past due on their accounts repeatedly with impugnity. Yet, when they are wrongfully reporting you as being delinquent to the credit bureaus, when you are in fact, pre-paid and have never been late on your account, causing serious damage to your credit scores and impeding your ability to get a mortgage or any type of new credit, they do not make the promised return calls, nor do they respond to your correspondence. Something is definitely wrong with this picture. Any class actions going against Sallie Mae's credit reporting practices? (I know of the class action against them alleging discriminatory lending practices.)

I am currently applying for a mortgage loan. Because my credit score dropped by over 100 points (from mid 700's to low 600's) due their falsely reporting my student loan as seriously delinquent, I would be hard pressed to be approved for a loan, even with a subprime lender at double digit interest rates. The Federal Trade Commission/Dept of Education/States Attorneys General need to investigate Sallie Mae and their business practices and credit reporting policies.  I am still trying to deal with Sallie Mae to get this situation corrected. If not, I will sue them under FCRA. If I do not get approved for a mortgage, or if I get one at double digit interest rates, my damages will be tens of thousands of dollars (if not hundreds of thousands because I live in CA). All because of their negligence and carelessness in the way they report to the credit bureaus.

Matt of Chicago IL (05/12/08)
Well, I attended Full Sail and took out about $87,000 total for schooling through Sallie Mae. My monthly total comes to about $852/mo. I recently went through a child custody battle that cost me about $13,000 and has to be paid back by July 3rd, 2008 or it will hurt the two people that helped me. I've been trying to use my forbearance since January 29, 2008 and was told I make to much money to get a forbearance no matter my circumstances.

I don't have a problem paying them, but I can't right now until I get back on my feet...not to mention I am a single family income with a fiance and an 11 month old son. I submitted my forbearance request AGAIN for the 4th time, May 6, 2008 with 7 pages of legal documentation proving I can not pay them now. They keep pushing me back and back saying oh you'll get a notice tomorrow and when tomorrow arrives they say tomorrow again. I get harassing phone calls all day long (sometimes 10 calls a day even though they know I'm waiting for approval EVEN ON SUNDAY at 9PM!!!!!). I thought forbearance was there when you need it not based on how much money you make a year. I feel helpless and have no way out, but making my credit score drop like an anvil...

The consequences are becoming overwhelming. If I don't pay them my credit will go down, I don't feel comfortable even buying groceries because I have to pay them, if I can't pay and my credit goes down...I'll never be able to buy a home, I feel harassed and powerless almost abused would be a better term. Economically I make 60,000/yr: I have a car payment, mandatory insurance, $13,000 in lawyer loans that are in my mom's name and a friend's name, $800/mo rent, Utilities, baby food, formula, diapers. I am going insane and nobody can help!!!!!

Maria of York PA (05/11/08)
I moved to Atlanta, Ga in 2005. Three months later I began attending ITT Tech in Kennesaw majoring in Criminal Justice. I attended ITT for 16 months, I then transferred to Westwood College for the same program but under the assumption I would graduate sooner. During my time attending these schools I used Sallie Mae.

To make a long story short, I returned to PA. A few months ago, I began to receive statements from Sallie Mae for repayment status. When I seen the amount owed, I cried. I called ITT Tech about the loans I applied for and received, they told me that I applied for a certain amount and only received half the amount applied for. The loan amount I received from ITT was only $26,000. The loans with Westwood was only $4,000. I then spoke with a rep from Sallie Mae and he told me that I received 8 full loans and that my total loan amount is $38,000.

Due to capatilized interest and that from the day I signed the promissary note the interest has been accruing since that day, and the interest rates are variable. He then told me I would have 10-15 years to repay the loan(s) amounts and doing so the total amount I would have paid is $68,000 because of the interest still accruing on each individual loans I have.

Basically, each loan I received in a half amount, they considered a full amount and applied different interest amounts to each one of them. My monthly payments are $530.00 a month. I can't afford this. The messed up thing about this situation I didn't graduate. When I asked them about consolidating the loans, their response was 1) in order to consolidate my loans with them I would have to be a graduate, 2) have excellent credit, 3) have a co-signor with excellent credit.

The physical damage that can result from this is my credit. If I don't pay them my credit will be distroyed. A situation like such deters people for wanting to attend and/or return to school. When I spoke to the finanacial aid rep at ITT, she told me to call Sallie Mae and ask for a forebearance, return to school, graduate, work on my credit, and then try to consolidate. If I were to do this the interest on the loans will continue to accrue and I will end up paying the loan three times.

We as students need some type of advice on how to go about this. Because we will be in debt for the rest of our lives. How will we be able to plan and/or take care of ourselves let alone a family if there are businesses like Sallie Mae out there taking advantage of the student? I am willing to pay the amounts disbursed to me, because I know I did use the money for schooling, but I am not willing to pay the huge interest amounts that will accrue over the next 10-15 years. PLEASE I REALLY NEED SOME TYPE OF CONSULTATION AND A SOLUTION TO MY PROBLEM.

Matthew of Ocean View NJ (04/23/08)
I took out a small loan with salle mae to attned Harris School of business. Ive paid of student loads with VSAC, so I knew paying back loans is something Im able and willing to do. My house burned down - I lost everything, including my little brother. A month later my job was terminated. I continued to pay sallie mae my monthly payments untill I eventually ran out of money. Ironicly at that point the bills stoped comming, I wasnt sure why. 3 months later I get a call saying I owe $600 dollers in late fees. They asked to verify my address, and they had been sending my bills to Maryland. I have never set foot in maryland.

Due to thier error I did not get a bill for 3 months - I paid them the $600 dollers, the last ammount in my bank account. The day after I made that payment they started calling me almost 5 times a day, it hasnt stoped. So it seems even when IM caught up with the payments they still call me and say I am late. My bill says one ammount while the agent on the phone says I owe a higher ammount. I want to pay this loan off, but IM still searching for a place to live, and finding work is proving to be a task of its own. I just cant believe sallie mae wont work with me to help me out. does anyone have any ideas?

I havnt slept more than 2 hours a night for the last 7 months, IM constantly feeling like IM failing at life. Every time I get one of those calls and a person tells me how much I owe and how bad of a person I am for not paying, Im starting to believe them. The moment I start to get paid they will too.

Carmen of Elizabeth NJ (04/23/08)
In 2006 I attended NJCU. In order to attend the university I had to apply for a loan through Sallie Mae. I submitted all the necessary paperwork to complete the loan process. In March, I was told to sign a promissory note to close the deal; so I did. Months later I received a notice stating there is a hold on my account due to non-payment. I then contacted the financial aid office; I was told the promissory note was not signed and the loan was canceled.

I now have a collection agency calling me demanding payment. I once again called NJUC and explained the situation; the financial rep. said to me the loan was canceled by Sallie Mae. I then called Sallie Mae and was told the promissory note was received on March 16th 2007, on July 1st the money was ready for disbursement and was put on a hold by the school, she then said on Sept 15 2007 it was canceled by the school without reason.

My situation now is the loan cannot be reversed, I have to pay 3,768.25 cash, and it is in collection due to lack of communication with NJCU. If I had the money to begin with I would have paid it; I have applied for school loans in the past and never had difficulties like I am having with NJCU. Please advise me on what can be done to satisfy this matter. Thank You.

I was reported to a collection agency due to NJCU incompetence.

Lisa of Phoenix AZ (04/21/08)
This was a salliemae services student loan that was paid off in jan 2007 (25,000 pay off). Somehow got turned over to diversified collections and they have been harrassing me for payment since march of 2007. I keep telling them to contact salliemae because this debt has been paid. I have contacted salliemae with registered mail to alert them that I am being harassed and explained my situation with no avail, even speaking to a customer service rep in the US. They cannot solve the problem and I am tired of them making 3rd party contacts to my relatives telling them I owe money.

My 90 year old grandmother was contacted and told that I am not paying my bills. She called me all worried and I had to explain it to her. They have called my parents and made it sound like if I didn't pay they would assume my debt. I don't know them any money. My credit has been ruined and I have spent countless hours trying to figure out how to solve this problem. I can't afford a lawyer so I continue to be harassed.

Teresa of Pleasant Prairie WI (04/15/08)
Capitalizing intrest is nothing more than compounding intrest. I was lead to believe that compounded intrest on a loan was illegal in the United States. If that is the case, how can Sallie Mae and other student loan companies get away with doing this? I originally took out several loans to finish school and the end total was around $35,000. When I had to consolidate the loans because there were too many from different sources, I did not have the capitalized intrest, but Sallie Mae bought the loans from the original company that I was doing business with and they capitalized the intrest without my consent.

I didn't even know that the company I was dealing with got bought out until I got a letter from Sallie Mae, at which time I called them to ask them why they said I owed them money since I had never dealt with them before. Now the intrest has compounded through this consolidation and my student loans now total $72,000. I believe this is wrong. I also believe it is wrong that Americans have to pay for college education to begin with considering all the people we have to deal with from other countries in our work place do not enter the work place in debt from college because their governments actually pay for them to go to school, but that is another complaint.

I have not been able to pay much on my student loans to begin with, but after the consolidation, there is no way that I can pay anything on my student loans. I can't find a job in my field, and the retail job I am forced to work to survive does not pay me enought to pay all my bills and my student loans. My loans are not in default that I know of, but they are definatly collecting more intrest as time goes on. I have no way to pay these student loans. I am just happy that they can not take anything I have away from me for owing them money, or can they? I am not too sure what to do.

Erik of Aptos CA (04/12/08)
I called for a payoff amount on my student loans. A check was sent in the amount quoted by Sallie Mae, and I later found out that I had made an overpayment of $4000 which was credited to my account. After requesting that the overpayment amount be returned to me via check, I was informed that it would take up to 30 days to receive my money. It has now been six weeks.

When I call to inquire about the refund, I am constantly given the run-around, and told that the issue will be looked into and I will be contacted within two to three days. Sallie Mae has never called to clarify why the repayment check has not been sent out.

My first issue with this situation is the fact that I was over-quoted by $4000 dollars. How can a Sallie Mae customer service representative make a $4000 error (four months worth of interest on my loan)? Basic math skills are generally required to work in finance aren't they? Consumers including myself are charged compounding interest on a daily basis, but no interest will be added to the amount owed to me. In my opinion they owe me $4000 plus four months worth of interest at 8% APR.

My second issue is the amount of time Sallie Mae has put off paying me what is rightfully mine. One month to cut a check? With a deadline that is about ten times what is needed to accomplish this basic task, they have already surpassed it by over two weeks. No explanation is ever given, and no clarification as to when the check will be mailed has been communicated.

Third, the constant promises of follow up. Sallie Mae representatives told me verbatim that they promise to call me with in three days. Two supervisors and one operator have made such promises, and not one has lived up to them. What kind of moral integrity do we have running our educational finance in this country? Overall I am absolutely discussed by the level of service and basic treatment (or lack thereof) of Sallie Mae customers by it's employees. If this were any other industry, offences such as these would not be tolerated. I am owed money plus interest. Sallie Mae should be scrutinized as much as Bear Stearns or American Airlines for their lack of decent business practices.

I am out $4000 plus interest with no idea when it will be returned to me. When asked to provide proof that an overpayment was made, my bank (Wachovia) faxed the canceled checks. Still, my phone calls are passed on to supervisors who promise to follow up. Needless to say, follow up never occurs.

Candice of Temple TX (04/01/08)
I have read many of the complaints against SallieMae on this website. I am a former employee of theirs and I understand the heartache of everyone on here. I don't like the way the company is being run and am so glad that I got out when I did. I went through extensive training for the federal loans that they provide but once I was put on the floor to help customers I was not given the opportunity to do what I felt was right. I left SallieMae in 2006 (I only worked there for about 8 months) because I couldn't take it anymore. There are some good people working there but they don't last very long and as I said the representatives aren't given much choice but to forward 'difficult' calls to someone higher (which are usually rude or just don't care). I wish I could help ALL of you guys with your problems.

Shame of working for this company is the only damage that has resulted. And I think that is horrible enough.

Andre of Inkster MI (03/30/08)
I called to see if we could come up with a settlement for my loan and they treated me horribly. After hanging up on me a few times we came to a settlement. It was for $2,900 and after I paid they stated that I was getting a fax letter but I never got it. They claim it was send out  but till this day I have never received a letter or fax in the mail or otherwise. When I call Mr Marvin Nickles he transfers me and then the line goes dead. Now they got their money and now they don't want to deal with me. I have been calling them everyday now trying to speak to a mgr/sup and have been getting the same runaround. The other day I was on the phone for 2 hours being transfered.  Is there any help out there?  Is there a corporate number where someone can help me with this?  I just want to get my settlement letter.

Zanna of Inola OK (03/26/08)
My adult son took out a student loan with SallieMae to go to welding school in Tulsa. He has since graduated and refuses to keep any job and stays in cognito most of the time. I never know where he is staying or who he is staying with.

SallieMae has began to harrass me because he used me as a reference. They call me constantly wanting to know where he is. They act as if I'm lying when I tell them that I do not have an address or phone number for him. Now when they call or send me letters, I've gotten to where I don't answer and the letters goes in the trash.

What is the use in wasting my time with these idiots? And I dare them to try and get me to pay his bill. He's an adult and on his own. I'm only his mother and I'm NOT responsible for his debts!!! I never co-signed for him. I knew he wasn't going to pay it back, I sure didn't want to be held responsible for it!!!

Brian of Indianapolis IN (03/23/08)
I have had nothing but problems with Sallie Mae since graduating college and paying on the loans I have through them. To begin with, I had a grace period after I graduated of 6 months and I was waiting for a bill to come in the mail. Well it never came. It was about 3 months later and I never got a bill from them and in that time racked up late fees. Now I have recently applied to have my loans consolidated so I could have lower monthly payments. Little did I know that I would be charged a 43,000 dollar finance charge for doing this on top of my original loan amount of $25,000. So I now owe them 68,000 dollars and this is on a variable interest rate. I have to pay interest on top of a huge finance charge like that? That is a scam if you ask me. I would never have consolidated if I knew this was going to happen. I didn't get a huge fee like that when I consolidated my fed loans with Chase Bank. I almost forgot to mention the fact that my monthly payment amount was about $410 and is now $290. So is it really worth consolidating? I say no.

This has put me in even more debt and I have had trouble sleeping because I can't stop thinking about all the extra money I will be paying them now.

Elenora of Vallejo CA (03/17/08)
I am a co-signer on a loan for my Granddaughter in 2004 and 2005. There were four separate transactions totaling $64,319. The total of these loans, as of March 2007, is $81,000. My Granddaughter has been allowed to and granted, Forbearance on at least two occasions, without my knowledge or approval. The amount that I signed for I felt I could handle. I am a senior on a fixed income, and this loan is growing beyond my means. My Granddaughter has been very uncooperative, and I only found out that there was a problem when she stopped communicating with me. I find there is a problem when the letters and automated calls begin arriving non-stop from SallieMae.

I know that I am responsible to make these payments, which have grown to $859.00 a month, and take up most of my Social Security check now, but what can I do to stop SallieMae from allowing her to avoid starting to pay off this loan by signing up for a few units? This activity seems, in my opinion, to alter the terms of the original agreement by adding thousands of dollars in interest. My contact with SallieMae representatives is frustrating to say the least. The only advice I get from them is that I should just make the payments regardless of the loan being in forbearance. That is not a solution, it merely lets the student off the hook and makes me the primary payer.

As stated above, I am a 70 year old senior on a fixed income. My phone started ringing at 8:00 each morning on Monday morning and continued each day for 8 days even after I called them to let them know I was trying to contact the student and her mother. Oddly enough, it was then that I found out that she had been granted another forbearance, and that the late payment would be taken care of when she returned the paper work. Mind you I had also received letters saying that they did not have current information for her. I have turned off the ringer on my phone and mailed them the amount overdue. I have high blood pressure, take medication for a rapid heartbeat,and have fought insomnia. I am already having bouts of anxiety over this growing debt. Once I make contact, I don't understand why the calls don't stop.

Catherine of Brooklyn NY (03/11/08)
I requested an increase of my monthly payments back in December 2007. I wanted to pay off my student loans faster. I got a notice in January saying that my payments were going to increased to $3,133 a month (my initial payments were $400/month and I wanted them increased to $550/month). I was shocked. I called Sallie Mae immediately and customer service told me it was a mistake and that the money would not get deducted. It was. It drained my checking account and caused me to get slapped with several overdraft charges. It's now almost two months later. I have not been reimbursed even though they say that I have. My Sallie Mae account indicates that I did not pay $3,133 so now I owe them twice. Sallie Mae is one of the worst corporations in America.

I had to drain my savings account to beef up my checking account as well as borrow money from friends to keep two rent checks from bouncing. I won't be able to pay next month's rent if I don't get reimbursed soon. It's been a real depressing situation. I feel like I am in school again - poor and scared.

Anthony of La Crosse WI (03/10/08)
Aside from the fact that the payments I have made account for only a small, small percentage of the principle, I am furious with Sallie Mae for having found me in default on the basis of identity theft. When I was going to Full Sail in Winter Park, FL, I had spoken with my co-signer (my dad) about applying for the second half of the loan which would cover the rest of the tuition. (Full Sail is extremely expensive and I regret going there.)

Jump to about a year or more after graduation: my co-signer (my dad) forgot that he approved this loan (which I took care of electronically) and filed a fraud report with Sallie Mae in order to have his name removed from the loan. This led to Sallie Mae sending me a letter completely out of the blue telling me that I committed identity theft and therefore am in default on a $31,000 loan. I have three loans with Sallie Mae because of Full Sail, with an original principle of around $84,000 without interest and a continually growing amount with interest of over $100,000.

Financially, I'm ruined. I'm stuck living with my co-signer (my dad). My relationship with my father has been pushed to the limit.

Antonio of East Haven CT (03/10/08)
Wow...I wish I had looked up this type of site, to start my complaint about Sallie Mae. I think they should pay for their own people to go to college. There is no common sense, anymore. This is because they are given some written "to-say" lists, and they don't need to use their brain cells. I have been in college for the past 5 years and had to deal with Sallie Mae quite a few times to incredible disappointment and shock  that these people could be so stupid. I didn't even get anywhere by speaking (after a billion requests) to a supervisor. One year before graduation, in the summer, they sent me the first bill. I called them, and they told me that I was in repayment because I wasn't attending college. Funny! 1) They just disbursed my loan to the college for me to attend classes; 2) At that time, I hadn't finished college, yet.

So, where is the grace period? I graduated in May '07. I called them in June to consolidate my loans. Spoke to someone in the US, and after playing with numbers I agreed to consolidate to a great interest rate, after (of course) all the discounts, auto-pay, etc. She told me it would be consolidated in July. Well, in August, I signed up for the MBA program, and Sallie Mae sent me a letter with all my loans. Guess what? No consolidation was done, and the interests were higher than originally. I called them and, of course, they give you these reasons that don't hold because of timing. In the meantime, I am the one paying for their mistakes, or better--for them not doing anything.

They are the worst company to do business with. The reps are lazy, management doesn't care, executives can't be reached, and students pay the price of a so-incompetent company. Forget escalating your issues. It will take you forever to talk to a manager, which would not take you anywhere because he/she is still reading a piece of paper and uncapable of using some brain. I will get my loans out of Sallie Mae.

Sarah of Norwood MA (03/10/08)
My problem with Sallie Mae Financial started on 2/25/08 when I received an e-mail stating that I was over $400.00 behind on my loan. I called that day and spoke with Dottie and told her that I am current with my loan and want to know why I received this e-mail. After doing some research, she stated that the payment were being applied only to one loan. (I currently have 3 loans with Sallie Mae). I told her that I only receive one bill and send in one payment and have been doing so for the last 8 years. She stated that she would send this to the research dept. and have it resolved. I then received a phone call from Joe on 2/26, and I relayed what Dottie told me on 2/25; and he said that the request was sent in and that it should be taken care of.

I then receive a call from Roslynn on 2/28, and she was extremely rude and unprofessional and told me that I needed to be specific about where to apply the loan. When I disagreed w/ her, she hung up on me. I immediately called back (and mysteriously it was down to $200) and spoke with Greg--and was hung up on by him as well when I stated that I have proof of the last 6 months of payment. I immediately called back again, and again he hung up on me. I immediately called back and finally spoke with someone who did not lack the basic customer service skills required for the job; her name was Rebecca. She stated that it was not in fact applied to just one loan and that the problem was that they don't have record of October payment. I spoke with several other people which I have record of, and what I owe changes with each call. I faxed in proof of Oct, Nov, Dec--which they said they didn't receive the fax.

Today 3/10 when I spoke with Malcolm (ID: LUMXA1). He stated that they have records of payments and doesn't know why I am receiving harassing phone calls. I don't know how many people they are attempting to rip off, but I for one will not stand for it. Also, I have demanded, several times that they send me a payment history, and they have yet to do so. It makes me wonder how many people they are doing this to and how often they are getting away with it?

This is possibly ruining mine as well as my co-signer's credit. I have proof of payments, and they also have it in their system and are still refusing to resolve it.

Latoya of North Charleston SC (03/04/08)
I went to a career training school that used Sallie Mae as their lender. I was misled from the beginning. While in school I was only supposed to be paying $10.00 per month, but shortly after receiving the loan my payments jumped to $30.00 per month. I have been paying on this loan since July 2006. I only received about $496.00 from Sallie Mae, but I have paid well over $1200.00 in repayments. I am a single parent and feel like I was taken advantage of. I advised Sallie Mae that I was having a financial hardship and needed to either reduce my payments or stop them.

No one was willing to work with me. I was basically told either you pay or my federal income tax was in jeopardy of being taken. I struggled to get the money up to pay them. On 3/1, I paid the amount online that I was told to pay to clear the balance and emailed Sallie Mae to send me a paid in full letter. I received a response telling me that I owe $17.00 more for March, and if that is not paid then I will be hit with a late payment fee. I feel like Sallie Mae is taking advantage of students and needs to be investigated.

I have been going through a lot of stress behind this situation. I have been put in the situation where I had to choose between meals and payment to avoid further harassment from this company. I will never recommend Sallie Mae to anyone.

Jenny of St. Louis MO (02/26/08)
I am at a total loss for words. I think my college might be more responsible for this (at least that's what SallieMae says). I was trying to get into school to become a paralegal. I chose Hickey College, which was a terrible mistake. First off, I did not want to use Sallie Mae because of all the horror stories. But my financial aid officer said I had to use them because Hickey will not allow me to use anyone else. That was a LIE. Then they tell me I need a co-signer because in the state of Missouri you must be 25 years of age to be able to sign for yourself. So after weeks of arguing with my single mother of 6 kids, she agreed to COSIGN. While in school, I was the only student to be kicked out of class and threatened to be expelled if I did not make my loan payments. I wasn't even graduated yet!? I had to borrow the money from my grandparents every month. Like I stated before, I was the ONLY student this happened to.

Then comes time to pay my loans after school. My interest rate is that of a mortgage payment, and worst of all, I get no credit for what I am paying. I am paying on 2 loans (I only took out one) and Hickey College went behind my back and changed my mother from co-signer to primary so I would be approved. Now Sallie Mae and Hickey College tell me I have to pay those loans or my credit will be ruined, yet I get no credit for it cause it's in my mothers name! I am furious and I want to sue! It is not about making the payments (which I can barely do), it is about getting the credit I deserve for something I did and am paying for.

I am totally broke for nothing. I cannot continue my education because I cannot get a loan. Meanwhile, my mother is getting the credit for all my hard work. Is there anything I can do?

Bianita of Hillside CA (02/24/08)
During my four years of school I needed loan assistance since my parents wouldn't pay out of pocket. My relative cosigned on my loan through Nellie Mae. My loan was bought a year later by Sallie Mae and I singed a new promisary note. Every year thereafter Sallie Mae dispursed loans to my college account for the remainder of my tuition balance after scholarships and such, without us needing to fill out any additional paperwork. The interest was deferred. When I graduated in June 06, I received my payment booklet in late July. My loan principal balance at that time was $19,241.41 My first loan payment was due on December 28.

On September 14th, I received a letter saying my loan capitalized to $31,468.83. When you finally get through on the line the best thing is to ask for a transfer to the US office, and you can speak to someone who speaks English. We managed to get the phone number of a US sallie mae person by saying my phone is about to die, do you have a direct line that I can call you right back? I've been transfered around a lot and finally reached you, who can help me. Another time we got a U.S. fax number and messed around calling numbers in succession until we reached a U.S. Sallie Mae person. It may be rude, but it works well when you get to speak to an American. Anyways, when I called and asked why this was, they told me it was outlined in my promisary note. The woman on the phone was very patient with me and we found together the paragraph on the pdf promisary note that states other fees as applies. One small line included capitalization fees. The reason for the high capitalization fee was because my relative who cosigned had just retired, changing their financial status (blah blah blah).

It was explained to me that because my loan was deferred that the interest would be added to my principal and Capitalized on the date of the year that the loan was first received. I thought it made sense and decided I could deal with it. In October I received another letter that my Loan capitalized once again. This time to $48,133.35. This freaked me out so I called them again. This was because my loan one year was received on the date that this capitalized. Putting two and two together, this meant I was going to have two more capitalizations? My family and I went to get an equity loan to pay the monster off but a two weeks later received another letter on October 31st. The loan had then capitalized to $64,286.11. The next date anticipated date for it to capitalize was Dec. 29.

My parents refinanced their home and paid off the debt before even my first payment was scheduled to be due! This is what we discovered in the process about how this was possible. In 1997 the president signed the Education reform act which would ensure any student who applied for an education loan would be able to receive a loan, which gave lending companies like Sallie Mae the special power to do this type of thing (short story but you can read more online about it). What I don't understand is why they needed to capitalize so much and second HOW they even calculated the fees. I couldn't even come up with a math equation to understand how they got their numbers. Our agent at the bank couldn't calculate these amounts either. My best friend from college was more unlucky than I, he ended up after all the fees owing $640,000+ from borrowing only $140,000 for school. His also capitalized before the due date of the very first payment. He has since given up on trying to attempt to pay it back.

My family had an exceptional loan rep at our bank who had dealt with SallieMae in the past. She estimated the daily interest and added it to the amount on the capitalization letter, then tacked onto that a thousand dollars extra to the fixed rate equity we finally received. Sure enough her expectations where correct and we were able to pay in full before the first loan payment was ever due. In just the time between October 31 and December 27 there was over a thousand in interest added. I just have sympathy for the individuals this happens to who do not have relatives with the financial capability to nip this in the bud. The bank told us it would have been cheaper in the long run to pay for school on credit card or home equity to begin with and we would have saved over $40,000 dollars.

Deborah of Glenshaw PA (02/23/08)
Two of my daughters attended New York University. They went to the student financial aid office to obtain student loans for 1 year. They were told that Sallie Mae was the best financial arrangement for their loans and that interest would not accumulate until they graduated. They filled out the paperwork and told us our signatures were required, and based on what they had been told, we signed. We did not read the papers closely, since they were voluminous and our daughters said that the NYU student aid office said this was a great deal! When our older daughter graduated, we were horrified to learn that the interest rate was 14%--more than twice what we could have secured the loans for on our own, and the interest was accumulating while they were still in school.We immediately paid off the principal balance of both loans.

We were further outraged to find out that Sallie Mae bribed student financial aid offices to lie to the students to induce them to take out these incredibly usurious loans. In addition, this is a private commercial lender, and its executives have spent outrageous sums of money on themselves and the bribery scheme involving schools and politicians. We are not pursuing legal action against them for their fraud; however, we are NOT paying them any money above the principal balance as the loans were secured under fraudulent circumstances. Sallie Mae has continued to harass us for interest on one of the loans. They call our house at least 5 and sometimes 8 times a day. We have told them the loans have been paid in full and to stop calling. Instead they have stepped up the calls. This is outrageous. No student EVER should borrow from this company.

Sallie Mae has threatened and harassed us and has filed a negative report on our credit report.

Lizet of Bradenton FL (02/23/08)
I enrolled myself at Keiser University, Sarasota campus. Their financial aid office completed my original financial aid forms for my tuition. I had no idea that it was Sallie Mae; it was simply presented as a school loan that I would have to start paying paid back 6 months after I completed my studies. (I won't be done with school until December 2009). My father co-signed with me because I don't have good credit. It all seem fair enough at the time until I started getting phone calls sometimes 3-4 times daily from Sallie Mae. The loans that the school had me sign for, are not loans that I will start paying for at the end of my college career; they are loans that I am being harassed to pay for now. I say harassed because there is no other word to use for the way they handle their accounts. It's mental harassment that is very upsetting for someone who has high blood pressure. Even the day after I've made a payment, they are calling. I always end up owing them more money. I just received a call from them; it was 9:00 in the AM, and it's Saturday. I promised a payment on the 15th of March, and that is not enough and conveniently never notated on the account; they continue to call. I moved in with my parents because they are both ill, and they are not only harassing me but are also harassing my parents. Calling won't change the fact that someone doesn't have the money to make a payment everyday.

I am so sorry to have gone back to school. I am a citizen; I love this country, but when did it stop being the land of opportunity? If I were the only person with this situation I would understand, but most of the people who have Sallie Mae loans are thrown in hell for the rest of their adult life. You are damned if you don't go to school and damned twice if you do. Their interest rates are ridiculous, and consolidating isn't much better. How is anyone who isn't rich supposed to get an education in this country? Does the middle man count at all? How can you get Sallie Mae to stop calling at all hours and every day of the week without selling them your kidney? Aren't student loans supposed to be paid back when you are done with school?

My blood pressure was so high because of all the stress these phone calls cause me, I had to go to the doctor and have my medication changed because the one I was taking was not longer effective. My parents are not well and are being upset by Sallie Mae. I lost my job and was looking for 6 months. I started my new job 3-1/3 months ago making less money than I was at my previous employer. I am barely getting back on my feet. I've told them this, and I think it encouraged them to call even more. I am terrified that they will get my new employer's phone number and start calling me there. These hounding phone calls are causing stress that is unhealthy for both my parents and myself. I am not close to being done with school. Why am I being called consistently and hounded by these people? Don't we have rights as students and consumers?

Joy of Philadelphia PA (02/22/08)
I graduated with a degree in architecture and over $80,000 in student loans. About 50% of these loans are with Sallie Mae. I was unable to find decent employment for about 8 months following graduation in 2007. Until this January, I was working as a secretary for a residential architect making about $10/hour. The total of my student loan payments equaled about $1100 per month--I was only taking home $1400. Thankfully, I recently became more gainfully employed and have been working with financial advisers and a credit counselor to construct a livable budget. My monthly expenses total around $1750 per month leaving me with about $600 to pay off loans and save some money--SOME being the highly operative word; because if I paid even a significant fraction of my student loan debt per month, I'm left with nothing to save for emergencies, the future (what future?), etc. I have been able to place loans from Direct Loans in forbearance for now, and I'm seeking forbearance for my AES loans. When I sought paperwork from Sallie Mae to apply for forbearance, I was told that I would have to pay a $150 forbearance fee. This would give me relief for about four months, after which, regular payment obligations would resume. The livable payment plan that I proposed to them in a letter sent about three weeks ago (along with correspondence from my credit counselor and my monthly detailed budget) was not mentioned. I brought it up and was told that that was simply not an option.

Since my finances are currently in triage, and I have no idea when or if they will ever recover, there is no way that I will be able to make the total monthly payments to any of my three lenders. Every attempt that I've made to professionally correspond with Sallie Mae to establish a LIVABLE payment plan has been met with smug indifference, threats, and unrealistic expectations. I've given up being concerned with how my student loan burden will affect my credit, because it is already shot. It was perfect before I decided to finish school about five years ago. So much for the education that was supposed to ensure me a better life. I would have been better off hopping trains across country and selling crafts at flea markets along the way. I'd have perfect credit, no debt, and I'd be in exactly the same economic rung--maybe higher.

David of Whippany NJ (02/21/08)
I don't know where they are coming up with the amounts they are charging. One example I looked about 2 months ago and they claimed i owed them 87,000. I looked yesterday and now its 93,000. I have over 23,000 in interest yet i don't even know how they came up with that. I've tried to consolidate but can't without a co-signer and who will co-sign for what is now $93,000. I haven't completely broken it down to exact figures but just by estimates its OFF way off. This seems to be a repeated problem with my school loans. I try to follow them and keep track of everything but the numbers seem to never add up to what they say the bill is and it feels like i'm getting charged by the same companies a few times and its not deducting from what i owe or even that a few companies are charging me for the same thing.

how long does it usually take a recent graduate to pay for $93,000? with about 14% interest? My point exactly. Use your imagination for what its doing to my life, my marriage, my stress level. And i've been trying to consolidate so i can make payments but i dont' have a co-signer.

Laura of Delmar NY (02/18/08)
In early 2007, I used the last of my forbearance with Sallie Mae to bring my loans current. They told me that my loans would again be due in July. About 3 weeks later, I received a call stating that my account was behind. I went through a long process of providing them information that I had used my forbearance. The representative stated that the forbearance had not been processed correctly and that they needed to do it again. This was done and I was told that the forbearance would be moved now through August 21, 2007. I received a bill in August stating that I was one month behind in payments. I called and spoke with many representatives and they all claim that they can find no record of my calls (of course not--they admitted that they made an error when they called me!) and that I am responsible for paying for the extra payment as well as the late fees. I explained how I felt that this was fraudulent, as they charged me the interest for the forbearance and were not expecting the payment as well as the late fee. IF I had the funds to pay, I would not have asked for the forbearance in the first place!

They are charging me late fees for the month that I did not pay (as it was in forbearance at that time) and it is being reported to the credit bureau as being (currently) 28 days late. I continue to pay on time current payments since then, but they still count that one payment as late.

Sally of Spokane WA (02/18/08)
My complaint is with Sallie Mae Student Loan company. After paying on my student loan for 8 years at $200.00 a month on a $19,000 student loan, it is now $23,000.00. My loan has been passed from Sallie Mae, ACS, AFSA, NELA and now of course the collection companies. Also, at the time of my consolidation with Sallie Mae, I set up a pay back payment plan that consisted of an automatic payment taken out of my account on the 28th of every month. While I was paying on this $19,000 loan, Sallie Mae makes a HUGE mistake and sent my consolidated loan to collections where it sat ruining my credit for 4 years. When I discovered the problem with my credit, I called Sallie Mae and asked for help to correct their mistake. THEY DID NOT HELP NOR DID THEY CARE.

After 2 years of calls and letters, I was able to dispute the error with the 3 credit bureaus. But the error still remains on my credit report for all to question. I have called the attorney general's office, and I am taking direction from them at this point. I have sent 3 certified letters this week, one to Sallie Mae, General Revenue Corp. and to Higher Education in Washington, DC. I will keep you posted; my loan is now at $32,000, and I am harassed by General Revenue daily. I am unemployed right now, and I owe Uncle Sam $3,000. Otherwise I was threatened that GR would be taking my tax return and 15% of my wages each month.

As a single mom I was unable to buy a camera or computer on time with dept stores because of the Loan errors on my credit report I was turned down for 4 years straight. This is when I pulled my credit report and found the error, It's time for a class action law suit, why are we waiting. I also believe that the math formulas are in questions,,,, HELP

Marilyn of Los Angeles CA (02/11/08)
While monitoring my credit I noticed that there were 5 discrepancies on my credit reports from transunion and experian from Sallie Mae. I contacted Student Clearinghouse who reports to the credit bureaus and they stated that my 5 student loans were in deferment status and that they should not have been reported as 90 days late for the past two years. I contacted the credit bureaus who stated to me that Sallie Mae reports to them the status. I contacted Sallie Mae and requested that they send me a letter admitting that they had made an error in not reporting that my loans were in deferment status. They admitted that my loans were in deferment status for that period but would not send the statement in writing; instead they sent me a letter that stated my request that my loans for that period be in deferment had been granted. Thereby, not accepting the the blame for their error and my credit score plummeting during the period of trying to refinance my home. 90 days late for five loans made me ineligible for a refinance.

Are Sallie Mae and the credit bureaus working together to cause people financial ruin? Is this contrived? I work with the at risk populations for meager salary compensation and yet even as I save the government money for services I perform for them, I am hurt by sallie mae who ruins my credit. When I first took out student loans in the 80's student loans were meant to help poor students who did not have endowments, trust funds, etc. to encourage those who could not otherwise attend college; but now they (sallie mae and the credit bureaus) are causing people with stress. Why are people who cannot understand English allowed to service these loans? I cannot understand them and they cannot understand me. Maybe sallie mae should employ some of us and let us work our debts off.

I've lost thousands of dollars lost due to high interest rates charged due to bad credit thanks to sallie mae. I'm still trying to get my home refinanced.

Virginia of Wichita KS (02/08/08)
I have two loans with Sallie Mae. Ever since around July of 2006 I have been repeatedly harassed by Sallie Mae about my payments. I have been sent to collections 3 times in the last 8 months, and every time I get sent there, not only can collections not find any standing missing payments, but they can't even understand where the amount that they are demanding is coming from. I have also received threatening letters for each account stating that I haven't been paying them. So every time I get them, I call Sallie Mae and tell them that they are wrong, then they look up my account and see that all my payments are there, but they still threaten to send me to collections.

Then they send me to around five other people that have no idea how to fix the problem, and each one of them remind me that my account is in route to collections. I swear they either promise to take care of it or request an investigation into my history. They never do, so the next month rolls around and I'm stuck dealing with it again. Every time I get an investigation, I am supposed to get an answer within 7-10 business days. The last time, they didn't send me an answer, they sent me a printout of the last three years of payments, and still couldn't find a single missing payment.

So finally after my husband threatened them, they did not send me a threatening letter in December, but they did send me a letter yesterday stating that they hadn't received my payment for January on either loan. So I checked their website and my bank account and both say that the payment was made and cleared the bank a day before it was actually due. I'm done. I decided that I'm going to fight back. I made a complaint on the local better business bureau. I decided that every time that they harass me, I'm filing a complaint on them. I suggest that you all do the same. Every time they get complained against them, they have to fill out a folder full of paperwork. If they don't get the message, then maybe we should all get together and file a class action lawsuit against them.

They are trying as hard as they can to destroy my credit, that I have worked for years to become good. I have been ferociously ill for the last two years, and stress makes my illnesses like 100 times worse. In the last seven months, I have been in the hospital 3 times, two of which I was fighting for my life, was made worse by all the stress that they putting on me.

Romer of Bolingbrook IL (02/06/08)
My wife and I have a huge problem with sallie mae. I cannot believe that sallie mae could ruin our life. My wife had decided to take out a second mortgage so we can pay off sallie mae. Then we got everything taken cared of. We got approved and got the loan. Then I called sallie mae to ask about my balance and next thing you know, my loan went to General Revenue, thinking all my federal loans are transfered to that company, they told me I owe 28,000 dollars, that I still owe sallie mae 15 thousand dollars, and I still owe ziweker 15thousand dollars.

My wife called in december or january just to check the balance and they told her 28thousand or less - how did they come up 15 thousand dollars interest? First of all we signed up for forberance and I spoke to one of the sallie mae's employees and she had told me that she received my letter regarding my foreberance. So, now we don't know what to do. This company is getting out of hand. It's bringing us down more in debt. School loans are expensive in the first place and then we lost our jobs and that's why it became defaulted. But they don't care about you losing your job, they just want to collect their money. I just hope that there is someone out there that straighten them out.

Sue of Sutton MA (02/06/08)
My troubles started with Sallie Mae in the Summer 2007 when I returned back to grad school and wanted to put my loans into deferment and forbearance. I consolidated my Stafford Loans through Sallie Mae, and so far have not had any problems yet (that I am aware of). I also have 2 private loans, one of which is giving me so much stress. Last summer I filled out every form Sallie Mae told me to (four in total) and it was never the right one. They called at least a dozen times a day, up until 9:00 P.M. Every time I spoke to someone, it was always a different story. The representatives even hung up on me three time and yelled at me! They were fresh, rude and harassing! After 5 months, my forbearance was finally put through correctly. It is now the next semester and I completed the forbearance form as I was supposed to and had it certified by my school. It was again denied for missing information (the school certified it on the wrong line; at least, that was one of the responses I received from Sallie Mae). I am now 41 days delinquent and getting the harassing phone calls again. And once again, the representatives are rude and keep telling me I am 'all set' and it should be processed the next day. Well it never is! Something needs to be done with Sallie Mae. I will NEVER recommend them to ANYONE!

It is being reported to the credit bureaus as being delinquent.

Richard of Jamaica NY (02/03/08)
I was unaware that I needed to submit an in school deferment form on a quarterly basis. After I was notified that my loans were in repayment and in collections, I immediately handled it accordingly. On 2/1/2008, I spoke to Heather who is an Account Manager for Sallie Mae who started to pursue collection, but realized that all Sallie Mae needed was my signature. I signed the forms as asked, PDF the document and e-mailed it directly to her. However, I am still receiving threatening phone calls from Sallie Mae's collections department in an attempt to collect while I am still in school. I want Sallie to stop HARASSING me immediately. In addition, I would like to speak to an attorney if appropriate.

So far, I am being told by Sallie Mae that they are going to send a negative report to the credit bureaus.

Belinda of Metairie LA (02/02/08)
I have applied for forebearance 3 times due to financial hardship. I faxed all my personal information to Sallie Mae and was denied because they said they didn't recieve my financial information. This is an outright LIE!!! I emailed them to say that I have the fax saying all four pages were sent and recieved successfully --everything they asked for I sent. This has been going on since December!!!!!!

Every time I call the 1-888 number, I get someone that I can't understand, nor do they understand the concept that most Americans have to take out student loans to further their education. These people are extremely condescending.

They said that they are going to report me to the credit agencies. These people are ruining my life. I asked several times to speak to someone from America and the Indians won't give me the number. Also, I have no idea what happened to my personal information when I faxed it. I faxed check stubs, letters, loan info, all with my personal business on it. AND THEY SAID THEY DID NOT RECEIVE IT!!!!

Patrick of Culver City CA (01/25/08)
After several days of being tossed around on the phone and passed to several different (and wrong) departments and having to give my private information every time I spoke to someone new, I blew up! I waited 3 days for a supervisor to call me back and she didn't! I had finally had it. I called their toll-free number and when the computer asked for my information, I didn't give it. It recognized my phone number and sent me to customer service. The lady in India asked for my personal information again. I refused. I told her that either she pass me directly to the correct department or her supervisor. She said, she needed my information in order to process the request. I said, then give me to your supervisor. She said, Can I speak? I said, No. So then, Jason comes on and I told Jason of my problem, he asked for my information. I asked, Where do you live Jason? He said, India. I said, You need to connect me with someone in the United States Jason, I will be contacting the CEO regarding my problem. He did. I talked to a US representative who was able to handle the request in less than 20 minutes. Problem solved. Take a lesson from this. You have the right to deal with someone in the states, since this is where your loan was processed!

Chelsea of Boston MA (01/23/08)
Sallie Mae claims my account is delinquent, they have added late fee penalties, and have sent my account to a collections agency. When I try to call either Sallie Mae or the collection agency that is calling me at least twice a day (during the hours their automated message claims are their office hours) I am greeted by a message of We're sorry, our offices are closed, please call back during our open office hours. I have been calling every day for two weeks now and I can't get anyone on the phone. The amount they say I owe when I call does not match the amount their website claims I owe. The math on the website showing how my total has been determined does not add up. I didn't even consolidate with this company! This past summer I filed my application with Educational Direct NOT Sallie Mae, agreeing to begin making my student loan payments once my grace period expired. However, no one, from either Educational Direct nor Sallie Mae has ever sent me a bill (via mail, email, or phone message) nor has anyone sent me any information saying what my monthly payment would be. I am at my wits end. I am 22 years old, just out of college, and I have worked hard to build my credit. Something seems terribly wrong with this whole situation. What should I do?

Hundreds of dollars of late fees have been tacked onto my account; my account has been sent to collections; my credit is threatened

J of Springfield MO (01/08/08)
I have six loans being handled by Sallie Mae (four federal and two private loans) that were created during the course of my schooling. Ever since they went into payback status in early 2007, I've always been late on my monthly Sallie Mae loan payment in some way or another. What's weird is that there's no explanation WHY we're late on it all the time. We either pay the amount listed on a paper bill we get in the mail (which we rarely receive) or pay the amount listed in manageyourloans.com, but we're still ALWAYS late and accruing late fees. We called SallieMae SEVERAL times over the course of the payback peroid, and were offered different resolutions and remedies to my late payment problems every time we called. "Look at 'Account Summary' in manageyourloans.com and pay what you see in the 'Monthly Payment Amount' field", or "Wait for a paper bill and pay what the bill requests", or "Pay a little bit at the beginning of the month, and the rest in the middle of the month", etc, etc.

Well, I'm still late all the time, and I'm still accruing late fees. Recently I started taking screenshots of manageyourloans.com. On November 19 2007, the 'Monthly Payment Amount' field stated that I owed $310.95. I took a screenshot of this webpage, and my wife scheduled that payment to be made on the day it was due through our online banking (12/28/2007). On January 5 2008, I checked manageyourloans.com to see how the payment was disbursed and found $253.14 had mysteriously appeared in the 'Past Due Amount' field... Huh? I compared this information with the screenshot I took in November, and the screenshot showed absolutely no mention of $253.14 being due at any time. So I looked at the current payment history and found the $310.95 was used to pay what was due on Dec 28, but I didn't know what the heck the $253.14 was all about.

On January 8 2008, SallieMae promptly tacked a $20.00 fee on the new 'Past Due Amount' figure. I called SallieMae and demanded to talk to a supervisor, when I got Allen. At least I think he said his name was 'Allen', since I could hardly understand him through his decidedly non-English accent. Well, after about twenty minutes of muddling through language barriers with him on the phone, I got the late fees knocked off and the payment redistributed. He said that the $253.14 was for 'federal' loans, and the original $310.95 was for their private loans. I asked him if all six of my loans became due on the same day (28th of each month), and he affirmed that they were indeed set up that way. I then asked him why the federal loan due didn't appear along with the private loan on manageyourloans.com, and he didn't have any answer. So here I am, stuck with a loan that is literally impossible to pay on time. It's hard to say how long this has been going on before I started taking screenshots, but I imagine it's been going on the entire time I've been paying back my loan since I've never been 'on time' even though I've paid whatever was requested via paper bills or on SallieMae's website. What do I do, and is there any legal action I can take?

I imagine this is adversely affecting my credit report, and it's seriously stressing me out. I believe SallieMae is manipulating the payment period and hiding information in an effort to create a situation that would be impossible to keep my payments current, and I'd definitely be willing to take legal recourse if it's warranted. I wouldn't want anybody else to have to deal with these seemingly unfair practices.

Curt of Fort Wayne IN (01/04/08)
Needless to say, not everyone is smart when they are in college and even less smart when they are forced to drop out for financial reasons. I had some student loans through Wells Fargo for several years and finally they decided that my inability to pay, etc. was not working out and sold them to Sallie Mae. Eventually I ended up being harassed by a collections agency called Pioneer, who made me a payment offer I could deal with and the loans came out of reparation and were purchased back by Sallie Mae (which of course I had no say in the matter).

About 1 week before my payment was due, I received a letter in the mail stating that the information I had provided had been validated and that they had set up automatic payment from my bank account as I had requested. Funny, I never made that request! Nor did I provide them with any information! (I assume they acquired it from Pioneer.) Now it gets fun. Since the Christmas holiday all their offices were closed, I couldn't contact them about this unauthorized payment, nor verify they were drawing from the right account! Sure enough, it came through my BUSINESS ACCOUNT which was at a $0 balance about to be closed out since I kept having stupid things coming through that I had to keep disputing just trying desperately to get this account closed.

Needless to say, any attempt to figure out a way around this on their website was impossible because any changes to my billing would have not negated this payment according to their website. Also, once I finally did get in contact with someone after the incorrect account had been drawn, it was some foreign lady that they've obviously outsourced their customer service to, who could only direct me to the website to update my account information. I highly doubt I'll ever find out how they managed to acquire my authorization or the outdated information that they had validated upon my request as I didn't have the heart to try to attempt to file a complaint with some poor lady who barely spoke English. I did file a complaint with the BBB though, and now here. I hope it deters anyone from EVER letting Sallie Mae handle any of your loans.

Luckily I was able to settle this without any additional fees from my bank (JP Morgan Chase, whom I am going to attempt to get to purchase these loans out from Sallie Mae). However it gave me tons of headaches and wasted time that could have much better been spent sleeping.

John of Agoura Hills CA (12/26/07)
I cosigned for a loan for a relative around 2001. The relative did not pay the loan back on time, so guess who gets the calls? I asked if there was anything I could do to remove my name from the account. I was given the amount of $7200 to pay on a full loan amount of approximately $14,000. I sent the money That was the summer of 2004.

I ran my credit report a couple of months ago and found that negative info was being reported. Upon calling Sallie Mae, I was informed they had no record of me buying my way out of the loan. I guess I sent the money out of the kindness of my heart! I have a letter from them stating what the transaction was about. Problem is, I've moved twice since this time, and I'm still opening boxes. Shouldn't they have records of transactions? They won't even release the name of the person I spoke to. Help.

Monica of Merritt Island FL (12/19/07)
My college uses Sallie Mae for all financial help, so I signed up with them and got approved. Yay me! They said that I could pay $114 a month, which I thought was kinda high, but worth it. After graduation, the payments DOUBLED. I called them to ask what had happened, and got the run around. I was transferred to at least 3 different people before I finally got someone to explain to me some crack about payment increases. I regretfully paid the hiked fees.

A few months later, I moved from Los Angeles to Florida. I called them to let them know that I was in the middle of a move, and that I was unable to make such high payments. I told them that I could only afford about $50 a month. The person on the line said that I should pay what I could pay and that it would be fine. Great! I thought. I made these payments for a few months, before I got my first late notice in the mail. The person on the line had misinformed me. I was told that $50 was fine, and here I see huge late fees being tacked onto my payments! I called back, got the run around (as per usual) and was eventually told that I had to submit a request in writing. I did as they asked, and called back a few weeks later. They didn't know what I was talking about, until I insisted about it enough times. Then I get the oh, that! We denied that because there was already a payment change in September of 05!

This was just the beginning of the financial problems. I tried to file for a forbearance, and they said that I had to get caught up. I didn't have the money, but I begrudgingly used my (now) husband's credit card. They never filed my forbearance request. This was one of THREE times that they have done this to me. I've since had a child, and they finally files a forbearance for 6 months. Near the end of this period, I called them to inform them of an address change. The guy answered with The reason I've called you today was to inform you that you're over 60 days late on your payment. I informed him that A) I had called him and B) my next payment was due two months from that day. He said that he had no record of my forbearance on file (even though I had initially called the automated machine to get the date of my next payment, and that machine had confirmed the date for two months from the day in question). After my baby was born, I had to quit my job. I have to move in with my parents and rely on a single income. The financial hardship is so bad that I have to choose between groceries and Sallie Mae. I've informed them of this hardship and they refuse to offer me any slack whatsoever, and continue to not only attempt to extort money from me, but they harass me on a daily basis. I've had to cancel my land line (for the most part due to harassment, and secondarily due to financial hardship), and they've somehow managed to find my cell phone number and have started to harass me on my cell phone, now! Today alone (so far), they've called me at 8:34, 9:57, 10:08, 10:32, 10:46, 11:08, 11:25 and 12:26 (it's now 1:00PM as I file this), and refuse to stop calling me, as per my request. When my son goes to college, I would rather sell my own kidneys on the black market (both of them, and DIE because of it!) to help him pay for school than go through Sallie Mae. I would not wish this mental anguish on my worst enemies.

I've suffered emotional trauma from this incident. Fear of my own phone. I've unplugged my land line for a period of no less than four months time before cancelling the line completely.

Scott of Wayzata MN (12/18/07)
This company is way too big and been around far too long to not have been faced with the Corporate Structure issues of make more profits with less personnel and far less customer service.

I had setup an automatic payment by mistake while paying online, you know it didn't even ask to confirm, as it is setup to take your bank info and that screen just set the autopay. I even had to pay again after that 'cause it didn't take effect right away. So, of course you can't cancel automatic payments online so I email customer support. I receive an auto-reply that they have received my inquiry, yet no one ever responded.

So, I've doomed myself to call a Fortune 500 company's customer support.

I push 2 for billing, then it gets tricky.
- press 1 so someone can call you back
- press 2 for more options
- If you fail to choose 1 or 2, the system hangs up on you.

I call back again. I press 2 for billing
- press 1 so someone call you back
- press 2 for more options
- I choose 2

Now it just gets stupid.
- press 1 to hear about the call you back feature.
- If you fail to choose 1 (the only option), the system hangs up on you.

I call back a 3rd time. I press 2 for billing (again).
- press 1 so someone call you back
- press 2 for more options
- I choose 1 (because it is the only option that doesn't hang up on you).
- I enter my phone number and speak my name when prompted.
- The system calls back in 10 seconds!!

Now it gets stupid again. ep- The system requires you to press 1 to be placed on hold for a representive (Guess what happens if you don't press 1).
- I press 1 and am placed on hold
- I am greeted with a customer representative from overseas (at 11am Central time).

The phone conversation

----------------------
ME: Do you know there is a problem with your phone system?
THEM: Excuse me, I don't hear you?
ME: Do you know your phone system is not functioning correctly?
THEM: I don't understand?
ME: Your phone system, it hangs up on me and requires I repeatidly call back!
THEM: How can I help you today.
ME: Can you turn off my auto-debit!!
THEM: You would like to turn off your automatic debit?
ME: YES!
THEM: OK. Your automatic debit is turned off. Is there anything else I can help you with.
ME: NO!

Do you think that the automatic debit is turned off???

Now, I am unable to login and pay online anymore. If you choose this company you have lost your soul to the corporate head.

You need to purchase alcohol after contacting this company. That costs money!

Meghan of Scottsdale AZ (12/18/07)
I have student loans from Sallie Mae, becuase my art college recommended then. I did not want loans with them, preferring Directnet, but they got me Sallie Mae loans anyhow. I graduated from the art college and enrolled in the local university for further classes. Sallie Mae started sending nasty emails, wanting payments. I have never received a paper bill. I requested paper billing, and they referred me to their website. When I try to log on to my account, it says it is suspended and to call them. When I call them they are abusive and nasty and demand payment. I tell them I am in school and would like a forbearance form sent. I have asked for a form at least six times. They email me a form in PDF format which does not open, it has error messages. I call them back and tell them that their form is not working. I ask for a peper form to be sent. They refuse. They refer me back to the website that I cannot log into, and offer to send me another PDF form which has error messages and will not open. I am now in default, and whenever I call them I get a complete runaround and no answers. They are calling 5 or 6 times a day, every day, and I don't know what to do. I have tried to work with them and it is impossible.

I cannot make these payments. I am not working and I am attending school. I have done everything I was told to do to get a deferral or a forbearance, and they have done everything they can to prevent that from happening, purposely putting me in default so they can charge me more and more and more money.

Mindi of Staunton VA (12/13/07)
Opting to go with a bank I trust, I tried to consolidate my Sallie Mae loans (about $19,000) with Bank of America. I filled out the application in October, a month before my grace period ended and three months before I was to begin repayment. About mid-November I called BOA to find out how my application was going. They told me that they had requested my loan information three times from Sallie Mae, but Sallie Mae would not release it to them. When I called Sallie Mae, they said they would not release my information to BOA because another company had already tried to consolidate my loans. So I called that company who said they knew nothing about it. They didn't even know who I was.

So the rep and I did a conference call to Sallie Mae, during which we were bounced back and forth several times and then sent to the overseas office. We were then cut off. Finally, a representative of Sallie Mae agreed to release my information to BOA, as long as they sent another (fourth!) request, which they did. It is now a month later and BOA still does not have my loan information and cannot move forward with consolidation. My repayment begins in 3 weeks and I cannot afford the high monthly payment with Sallie Mae. Every time I call them, I am shuffled around and eventually sent to the overseas department where the operator does not speak English. Nobody seems to have knowledge of what the person ahead of them did, and no one will give me their extension to check back with them (We don't have extensions, they say.) After reading these horror stories, I'm even more terrified to consolidate with Sallie Mae. I have no idea what to do. Is there any legal recourse for this problem? Can they legally just refuse to send my information to the company I want to lend with?

G.& of Cortland OH (12/11/07)
I agree with Marge from California! This is nuts. My husband and I went to college when our oldest was in diapers, and we have been paying our Sallie Mae nightmare ever since then. Well she graduates from high school this year, and we owe $3,000 MORE than when we started paying. Just as guaranteed as Sallie Mae's loan is, I GUARANTEE ALL OF MY KIDS WILL NEVER TAKE A PENNY FROM THIS BLOOD COMPANY! They are like the money sharks in the movies; (hypothetically speaking) they charge you double interest and break an arm or a leg if you don't pay on time. They don't care one bit if you are struggling, trying to make payments, or if you are hungry and need to buy food. They don't care just as long as they get their payment that DOESN'T EVEN APPLY TO WHAT YOU OWE!

This has economically devastated us and probably will forever, since we can't seem to pay it off. My husband wants to hide out in the hospital with depression because he just can't deal with it.

Jamie of Midvale UT (12/10/07)
I had to apply for financial aid with University of Phoenix and foolishly signed up to receive loans from SallieMae--a company I have had problems with in the past when they refused a deferment option when I had to leave the country on a mission.

After paying off $10,000 loan with SallieMae in September, my wife requested a cancellation of the account and was told I had to do it myself. At the end of November, SallieMae had sent another $10,000 disbursement to University of Phoenix. When I tried telling them I didn't want the loan they told me it was too late and that I owe them the pay-off amount plus interest.  Do consumers not have rights to cancel services after paying off their balance? Now I have to pay SallieMae the loan amount plus interest rather than paying for my school direct.

K of Oceanside CA (12/09/07)
I started nursing school in June 06 and the company our school preferred was Sallie Mae for all loans. I was excited to get approved for the loan and while I was in school Sallie Mae told me that I could pay $10.00 monthly and this was very exciting because I did not have a job and my husband was the only working person in our home, so that amount we could afford. As soon as I graduated from school the next month, I got a letter from Sallie Mae stating that my next payment is due and the amount was $191.55. The payment jumped $181.55 too much. I immediately called them to ask about this. The rep on the phone gave me the run around. I spoke to 8 people about this and then I requested to speak to a MGR and no one else. I got a MGR on the phone and she told me to fax in a letter stating that I want a change in terms for my loan and put on that fax the exact amount I could pay. I was very satisfied to hear that.

2 wks after faxing the letter, I called to check and see if my terms have been changed and again got the run around with about 5 reps and again I requested to speak with a MGR. I got a MGR for the second time and was then told that my fax request was denied because in June 06 the terms were already changed to $10.00 monthly fees. I told him that I was in school and that was the agreement while in school but now the jump from $10.00 to $191.55 is extremely too high and I do not have a job as of yet and I could not afford that. The responds was could you use one of your credit cards or borrow from friends/family? I said No and what can I do to change the monthly payment because I just cannot pay this amount. He said nothing can be done because the loan I have can only be changed once and it already had been in June 06. I told him I am really trying to keep my credit worthiness with you guys and my personal credit report good but I just can't make that high of a payment. Needless to say nothing was changed and I have been and still continue to make these high payments for the sake of both my husband's and my personal credit history. The only thing that for me has seemed to work out is now I have changed my due date to the end of the month so I can pay all the house bills that are due the first of the month. Never use these people. I am considering taking out a personal loan with my bank to cover this and pay them my intrest rate and the monthly payments will be lower.

Kristy of Dana Point CA (12/09/07)
The very first letter I received from Sallie Mae about my student loan was a default letter. They NEVER sent me my first bill...now after all payments being made on time in the proper amts, they continue to send me letters threatening collections. They are asking for more and more money each time and not letting me know when it's due. Next thing I know, 2 weeks after making my payment I have another letter from them telling me I have an overdue payment. THIS MAKES NO SENSE.

I have spoken to someone on 3 different occasions, and they have been everything BUT helpful. I am confused as to what this company is doing because it feels fraudulent if you ask me. My principal balance has GONE UP...with ALL my payments being made. Now I need to go to my bank to take a loan out so I can get these people paid, so I DON'T HAVE TO DEAL WITH THEM ANYMORE! Please, this situation is out of control, and now my co-signers and my credit hangs in the balance. My anxiety has finally hit the roof....They are obviously not abiding by the repayment terms. 

Mike of Norwood MA (12/08/07)
I was a college student attending The New England Institute of Art, and Gibbs College before that. I worked hard at both schools, signing for my own loans and attending classes properly. Well, I had probably signed for over $40,000 in loans somehow because the school would always pressure me to sign. I was almost done with my bachelors and they requested another loan for that fall. I couldn't get one without a co-signer. Nobody in my family could do that. Just before I was about to call it quits, the National Guard called me into service. I withdrew from school under military conditions. Apparently because my deferment time ran out, my repayment began. I started getting huge bills from Sallie Mae for over $500+ for loans I didn't even realize I signed for. I had the government ones that remained in deferment. I think they still are right now.

I can't go back to school now because of the loans, and I will never be able to finish my degree. So now I'm in a catch22. I can't finish the degree to get a job to pay for these huge loans; therefore I will never be able to pay for them; therefore I can't win, and neither can Sallie Mae. By now they've stated I've defaulted and thrown it into collections.

Daniel of Jeffersonville IN (12/07/07)
Look, I'm just like the rest of all you guys out their. I graduated from college almost 2 years ago, and it took about 7 months for them to figure out my consolidation--sticking me with the highest interest rate they have. (I'd still like to know how they calculate that.) I have a payment of $664.00 a month, but that wasn't even the problem. The problem is I've paid them now 6 or 7 payments and this last payment I was off by $5. They contacted me; I told the lady that I'd put it on the next payment, and she said "You can do that sir but the computer will keep calling you. It's best to pay it now." I really didn't want to just out of principle but they also called my co-signers as well. So I paid them.

But I continued to get phone calls to pay, even after they said they had it taken care of with their computer calling system and with reminders in their files that I had paid. I got an email the day before from Sallie Mae saying that they already got my payment. Anyway someone or everyone needs to do something. I mean this is ridiculous; they have called me six times in the last three days for $5. Isn't there something we can do?

Jerry of Greenfield, MA (12/05/07)
My daughter had her rates changed, extra fees added, penalties and interest added. Her 13K loan is now approaching 17k with regular payments being made. We have daily calls from SallieMae's collection company for being behind by one month.

Nancy of Roswell NM (12/01/07)
I recently graduated from University of Phoenix with a bachelors. I took two loans out with Sallie Mae, private loans. My loans entered repayment in October, so in August I began making phone calls to get an in school deferment. I was sent the form late September, sent the form and my school filled it out and sent on October 3. They sent in the consortium agreement and both certifications from the school. Well, once they receive that after 13 faxes from myself and the school. Oh and each rep kept telling me they would request a deferment on the loans, well one was granted then two months later it was removed. I talked to a collections rep because my calls were automatically transferred to them because now they were in default. She told me they would request the deferment be removed because it was a mistake. Well they got and now I get calls everyday from Sallie Mae, every 20 minutes.

I was finally able to talk to someone that wanted a letter from the school telling them what they considered half time. So the school has sent it and nothing has changed, just the regular 3-5 business days to process. I have read your comments and noticed that Sallie Mae will refuse to consolidate loans from other lenders, I was hoping this would relieve me from their nightmare. I went back to graduate school and am attending more than half time status. I really hate this company and am early on that I will not request consolidation but rather take out a personal loan to pay them off, I don't want to go through what the others have gone through.

I really hate that company and have told many of my friends to not even consider applying with Sallie Mae, if students don't to business with them then they will learn to deal fairly. My regret is that the government is backing them up and is legalizing all of the harassment and belittling this company does.

Michael of Fort Huachuca AZ (11/28/07)
I've been paying off my school loans for the past 9 years. I had over $10,000 in principal in private loans and $5000 in federal loans from Sallie Mae. On the federal loans my interest rate has stayed the same, but my private loans were adjustable. The interest rates would increase and I would receive no notification from Sallie Mae, so my payment amount would jump up, but I would pay the amount from the previous month. Suddenly, my parents (I'm 30 years old, give me a break) and I would get harassing phone calls talking about how my payments weren't enough and then I was charged numerous late fees. It got so bad that every quarter it seemed I was getting one of these calls.

I finally decided just to pay $100 over the actual due amount to keep this from happening. I then joined the Army, which has qualified me for the Soldiers and Sailors act. My private loans now have a fixed 6% rate and I've actually made some progress toward knocking out my principal. I thought everything was going great, when this past month I made several discoveries.

This past month I made my usual payment of $225 (my amount due is $149). My credit union shows that the payment was made to Sallie Mae, but my Sallie Mae account showed no such payment had been made. I called Sallie Mae inquiring on my discovery. The rep I talked to kept me on the line for twenty minutes while he searched my account for the payment. After this wait he got back on and told me that it is possible that my payment did not have my account information on it, so instead of being put toward my account, it was put in a hold status.

He then told me I needed to fax proof that I made the payment to the company in order for my account to get credit (keep in mind, I've been making payments twelve times a year for nine years. This had never happened before.) He then told me that I should see my money put to the account within 3-5 business days (This was without me faxing anything). I find it very peculiar that my money will just somehow magically appear in 3-5 business days.

One other revelation I had with them happened as I was looking at my account payment history. As I said I pay $225 a month. My amount due is $108 for my private loans and $41 for my federal loans. I noticed that they were putting my entire $225 toward the private loans and once every four months they would put some toward the federal loan. I did the math and in four months the amount of interest that accrues on the federal loan is the amount they were putting toward that loan. In other words, they let the loan's interest grow until it reaches a certain point and then put my payment toward it (I'm not cutting the principal).

When I talked to their reps about this, each one has their own theory on why this happens the way it does. The truth is, the company will do everything it can to try and keep me in their debt. I am so very frustrated with this company and would love to get out from under the horror they've created for me.

The only physical damage I've seen is my emotional level. I am a husband and a father and my family never sees me in a good mood because of the stress this company invokes. Economically there were months (before I joined the Army) when my other bills were late because I spent all my money paying late fees to Sallie Mae. My credit record and score has been greatly impacted by this.

Laura of East Rutherford NJ (11/28/07)
I have several signature student (private)loans with Sallie Mae as the provider. I recently put in an application with Sallie Mae to consolidate all of my loans to get a lower interest rate and thus, a lower monthly payment. When I received a letter stating I was approved with the rate they would offer me,the interest was higher than what I am currently paying them.

I immediately called them to withdraw the loan for that reason. They have on record that the loan application should have been withdrawn (three dated records of my request before it was processed) and told me they don't know how it was processed when it is clearly indicated that it should be withdrawn. Needless to say, they went ahead and paid off my loans and consolidated them.

Each time I call them I am told to call back and they cannot or will not help me resolve the problem hoping I will accept the new loan at a higher interest rate and higher monthly payment. I didn't realize it was legal for them to do this and I did not agree to the terms, nor was I expecting them to process the loan after calling several times BEFORE the consolidation process began.

Sallie Mae is now trying to force me into a new loan that I did not agree to that is charging me a higher rate of interest making my monthly minimum payment of about $40 more than what I am currently paying. I would like to have this resolved, as it is an economic hardship on me as it is without the consolidation. Prior to consolidation, my minimum payments were $589 per month and I can barely handle that amount.

Kate of Sacramento, CA (11/18/07)
SallieMae has called and mailed me and my mother repeatedly because we were used as a reference by my cousin. I've told them innumerable times what his up-to-date address and phone number are, but they insist on using my mom's address as his and contacting us again and again.

It's been years now, and I don't know how to get it to stop. He's not paying his debt, but WE'RE the ones being harassed.

J of Petaluma CA (11/14/07)
Ahhhh.....Good 'ol Sallie Mae. Where do I begin?

I have had this loan since 1998--going on 10 years now. I recently went back to school--grad school--and was told that my school would auto update the clearinghouse with my full-time status. I started to receive phone calls from SallieMae collections after they did not receive their Sept loan payment. I explained the situation to the gentleman and he suggested that I physically get an in-school deferment form filled out and fax it to them. So that is what I did.

I continued to receive phone calls from collections, harrassing, rude, unwilling to help. So I decided to actually call SallieMae myself to see what was up with my deferment. I no longer could get through to customer service--I was automatically re-routed to collections EVERY SINGLE TIME!!! Not one of them wanted to help me...they just wanted me to pay.

I insisted on speaking to customer service because that was were I sent my form. I had to pretend that I did not have an account with them on the key pad and finally pleaded with customer service not to send me to collections (I was told once that this was a guideline--once in collections, they can no longer help)

Anyway...I asked what was going on with my deferment--they looked it up and said that there was a signature missing. No one from SallieMae took the time to inform me that the fax did not go through correctly. It took 2 more weeks of fighting with collections and trying to get through to customer service after faxing and re-faxing to multiple people, before anything was taken care of. I complained to customer service when my account was brought up to date and all I got was I am sorry that this happened to you I explained that it was virtually impossible to get through to customer service to take care of the problem--where the problem originated--and all I get is I am sorry. I was so sick of hearing that. Honestly, it felt so insincere...I have dealt with the evilness of SallieMae before....

My co-signer died a few years ago and the insurer, Heymar, called me and told me that the loan was due in full. I told her that there was no way I could pay 20,000 in full so she lied to me and told me that my grandfather's estate was probated. I had to get a lawyer with my grandmother and found out that Heymar/SallieMae could not go after my grandmother for the full amount.

Heymar then contacted my uncle, who was a reference on my loan, and asked him what I intended to do with this loan, pay in full or make other arrangements. She wanted to take care of this before she left (she was leaving the company). Is this not against the law? My uncle was only a reference.

Every contact that I have with SallieMae is recorded now. I get names (I was refused a few names before, maam we don't give out names here---yeah, well, they introduced themselves at the beginning of the phone call and now they won't give it to me????) So shady (for lack of a better word)

Donna of Bloomington IN (11/13/07)
My daughter, her dad and I as co-signers, will never be able to get this private Sallie Mae loan paid off. It keeps growing. The 8 calls each day is harassment, as I try to tell them at least once a day, that I have every intention of paying; we just can't. (They say, borrow the payment from a friend or relative....That would be the most stupid idea ever....)

I just want to know what can be done about this? I have asked reps, "Who owns Sallie Mae?", and NO ONE knows the answer. Someone has to be the top person, somewhere.

Christine of Kansas City MO (11/06/07)
I was advised by my son's school that Sallie Mae had questions on my parents plus loan. I called Sallie Mae and was told that the loan that I signed the day before was not approved and wanted to go over my credit. I never applied for this loan. I applied for a loan thru Wells Fargo, not Sallie Mae. I've been having problems with Sallie Mae for a year. The only reason I chose Sallie Mae in the beginning because it's the preferred lender of the school. Sometimes, I feel the school and Sallie Mae are trying everything in their power to stop me from going to Wells Fargo. I am now in the process of consolidating the Sallie Mae loan with Wells Fargo. Hopefully, this will solve all my problems with Sallie Mae, unless I get another application submitted unknowingly by me.

It caused the delay in financing my son's education and a lot of frustration on my part trying to get my parent's loan straightened out.

Marge of Corona CA (11/05/07)
I have been extremely stressed regarding a supposedly cancelled loan with Sallie Mae which I took out in June. I had enrolled for classes at New Horizons in Orange County, CA and was approved for a tuition loan in the amount of $7274.00. I had cancelled my enrollment from the school who then sent a check back to Sallie Mae less the enrollment fees which I was not aware of. Towards the end of August I began receiving phone calls from Sallie Mae collections saying I am in default. I have not received any other information besides that I signed a contract? and that I have incurred interest? on the loan.

Sometime after those harassing calls, I received a call from a Sallie Mae employee who had explained that I now owe more than $400 dollars because of incurred interest as well as penalties. I had agreed to give her payment and gave my credit card number. I proceeded to call the Sallie Mae consumer advocate and spoke to a gentleman named Rich which turned out to be in vain because he has not made any progress and on October 26, Sallie Mae had once again sent a disbursement check to New Horizons. A phone call to New Horizons confirmed that check has been mailed back but now I am once again receiving my regular hourly calls from collections.

Nina of Oak Lawn IL (09/25/07)
I have been paying on my Sallie Mae account since around the year 200. It is now 2007 and I have paid them just under $22,000! Of that, just over $2,000 has been applied to my principal and my balance is around $1000 more than the original cost of my loans! That's 7 years and I now owe more than when I started! I am dumbfounded and don't know what to do! I locked into my rate of 7.625% and now cannot reconsolidate.

It burns me when I get solicitations in the mail to reconsolidate at a lower rate when I am not able to do so without...gee taking out another student loan - which I would assume I no longer qualify for due to my salary. Nor do I find that a viable option - borrowing more to pay less on more...does that really add up to a savings? My head hurts and my stomach is sick! I literally was in tears as I added up the figures above! There was a spell when I was making double payments and noticed they were all going towards interest.

I questioned Sallie Mae and silly me...apparently you have to MAIL in additional payments with a note EXPLICITLY requesting that the payment be applied to your principal. No one ever explained THAT part!

Sean of East Yaphank NY (09/14/07)
For nearly 8 years I have had to endure a constant battle with Sallie Mae Servicing over unfair practices that have prolonged relatively simple issues in order for the company to gain interest for my student loans which they service. Worse than that, the loans were sold to Sallie Mae without my knowledge. I decided to use an award I received from The Corporation for National & Community Service (AmeriCorps) to pay off my loans in full. I sent in the application, called to confirm receipt and was assured that Sallie Mae would complete the process. The bills continued to come to me.

I was again advised to forbear my loans until my award was processed. Nearly 2 years later, interest is still accruing on my account; Sallie Mae has again not completed its obligation. And now the principal on my loans has more than doubled.

Debbie of Anchorage AK (09/05/07)
I saved for 6 years to go to law school, attending 1989-1991. I worked as a prosecutor for 8 years, helping to get drunk drivers and domestic violence assaulters into alcohol and anger management classes. Helping the community for lower wages, that was me. I am now on social security disability and cannot work. Sallie Mae won't help me and can garnish my disability income.

I borrowed $15,000 and after 16 years of responsible paying I still owe $12,000. It's so stressful!! My friend racked up $18,000 in credit card debt buying jewelry, clothes and expensive vacations. She gets to go through bankruptcy and discharge that consumer debt. If I go through bankruptcy my school loans are not discharged.

The only way for me to get my family out of this burden is to DIE. It's so unfair that my health problems don't matter a whit to Sallie Mae. When I signed the loan papers, they were a government-backed entity. Now they are a for-profit that makes millions of dollars off well-meaning Americans who did nothing more than try to improve themselves and serve their communities. Bah!

I am so stressed out. The financial hardship makes my health condition worse. Talk therapy helps somewhat.

What would work better for me would be negotiating constructively with Sallie Mae for a flat pay-out.

Dale of Antrim NH (09/05/07)
The outstanding balance of my loan, which was in collection was settled and paid off by the closing attorney for my refinance. Sallie Mae SETTLED the outstanding balance with the attorney. Twenty months after I refinanced, they sent the balance (<$400) back to collection. They had sent me monthly solicitations for life insurance, loans etc but never an invoice indicating there was a problem with the pay off. After four months of attempting to callthem and getting nowhere, I finally filed a complaint with the attorney general's office in NH.

After nearly two months, Sallie Mae has not responded and the AG has given them ten days to respond.

Leslie of Goose Creek SC (09/05/07)
I called to pay in full via phone one of my student loans. For some reason they have 2 listed for me.

One, they won't post payments via phone, only via their website.

Secondly, I was given the runaround if it would actually pay in full the said loan segment.

Thirdly, I was berated for 5 minutes for even wanting to pay off my loan.

As another note, years ago when I consolidated my loans, Sallie Mae was more than happy to move my loan out of a federal funded program at 4% interest into a Sallie Mae loan at a much higher interest rate. Now they refuse to move it back. There was NO disclosure of the fact that the consolidation would be higher rate.

When I requested to be transferred to the specific payment department I was told that that department does not exist. I did not feel comfortable speaking with the offshore person as it was obvious he was reading from a script. There should be a way to speak with a specialist that resides in the home office when requested.

After reading all the complaints against Sallie Mae, I have zero trust that they will in fact post my payment properly. Costing me time and effort to get things done correctly.

Steve of Tallahassee FL (07/24/07)
I contacted Sally Mae online to get info on a student loan. I got a call from them that my credit was not good enough for a loan and would need a cosigner. I told them I wasn't interested. I now can't get them to stop contacting me. They email with bogus web form addresses and call as much as 3 times a day.

Mary of Racine WI (07/23/07)
First, it is my daughter's fault that she kept borrowing on her Sallie Mae loan; but I believe she did so with the thought that it would be at a low interest rate as was her original school loan. Now she is strapped with $80,000+ in debt, and each payment applies approximately $3.00 toward the principal; which will never clear it. She has tried to get them to reduce the interest; but they aren't concerned. Such a shame. Just 27 years old, just married and possibility of losing all she has worked for so far.

Christopher of Baltimore MD (05/08/07)
I took out a Sallie Mae loan in the amount of $3495 to attend TESST university. I am in the military and was able to garner $2133 in tuition assistance from the army. After providing TESST with the tuition assistance, they cut a check to Sallie Mae which was supposed to be deducted from my principle amount. This check was cashed by Sallie Mae in March of 06' however the amount was never deducted from my principle. I faxed a copy of the cancelled check to Sallie Mae 4 times. The amount has still not been deducted. Every time I call to confirm reciept of the fax, the customer service representative says that I should fax it to a different number. The 3rd time it supposedly showed up on my account and I was fortunate enough to get a POC with whome I could work with.

When my account was not credited in the time that they said it would be, I called my POC using the pin-number I was provided. Lucky for me though, the pin number had expired and nobody was willing to patch me through to the woman who was working with me. To this day, more than a year later, my account has not been credited and I don't think it ever will be even though I have proof that Sallie Mae took the money.

Jim of Mt Laurel NJ (05/04/07)
I co-signed a loan for my son who is attending a small school for Aviation. Apparently, I made the mistake of paying early on a monthly $10.00 agreement and was told that because I did this the interest started early at initially 17% then has now raised to over 18%. I have asked at least 4 supervisors for clarification on this as well as how they were calculating interest on my son's loan. To date no one can tell me and no one will provide me with the information.

I have recently asked for a pay off statement on 29 April which they said would be good for 10 days...I have yet to recieve the statement its now 4 May. They told me the figure and said I could pay it over the phone but would not explain how after borrowing $11K his interest was over $4k in less than 24 months from origination. I was just told that I could go to their web site and get this information but after doing so could not get on the site. They have threatened to send a report to the credit agencies which will obviously be adverse but will not give me the proper infromation to pay off the loan.

Erin of Casa Grande AZ (04/26/07)

I go to a small private school for criminal Justice. When I first signed up I went through financial Aid and at first I was paying the school $200 a month. One day I was called in to the office and was told that Sallie Mae was going to loan me $5000.00 for school. They said to sign the contract and I would be paying $10 a month. I was very excited and was planning on paying more than $10 so that my credit would be good.

I was not told by anyone that after 6 months it would change to just over $100.00 a month and the interest rate is 18%. I have tried to call and get help from both my school and from Sallie Mae but to no avail. I am now in delinquency and am like others receiving 2-3 calls a day on my cell phone starting from 6 am to 8 pm all week long, and even on weekends like Saturday and Sunday.

Dan of Carterville IL (04/25/07)
I consolidated my $60,000 of student loans with Sallie Mae in Summer 2005 with a rate of 2.875% - or so I thought. Even though they said it was done and gave me interest rates, totals, payment amounts, etc....now as I get ready to leave my school I call Sallie Mae and they have no record of my existence. None, nada, zip, zilch. I do have emails though Thank you fopr registering You need to do...blah, blah (Which I did)

I was quoted an interest rate of somewhere between 6.2 and 8% - so this will cost me MANY THOUSANDS of dollars. I am a tad bit upset...

Samuel of Grapevine TX (04/17/07)
I have a student loan with Sallie Mae and I opted for online billing when I started taking a continuing education class. That was my mistake. I spoke with customer service to try to get a paper bill in the mail instead of online billing. I was told that the only way to change my billing option was using their website. I was unable to ever get a paper bill sent to me. My account became 37 days delinquent and that's when I started getting phone calls 3 times a day on both my home and cell phone.

I spoke with a collection specialist to see if I could get a bill mailed to me. James at extention 3260 told me that I had to pay my bill by phone using check or credit card immediatly and that if my account reached 45 days of delinquency that my credit would be affected. I told him that I did not feel comfortable making my payment by phone and that I have requested to be billed by mail on multiple occasions. He again directed me to their website. I told him that I had tried that unsucessfully. He told me that there was no way I could get anything mailed to me and that I had to pay by phone right now.

After convincing him that I could not pay by phone he finally gave me an address that I could send a payment to, then he hung up on me!

Robert of Cupertino CA (04/13/07)
My student loan was purchased from another student loan provider,ACS, by Sallie Mae. Sallie Mae raised my interest rate by .25%, I asked them repeatedly about this, only to have my questions brushed aside by canned answers.

They would not give me the name of an individual to which I could speak to get to the bottom of the issue. As you can imagine this was frustrating. At the end of the month Sallie Mae debited my checking account for the minimum payment--now this is the annoying part--I prepaid my account to something like 2012!

I contacted them about this problem only to be given the same canned response. Since I expected this to happen again and as I could not contact anyone who would be willing to give me an answer I kept the minimum payment amount in my account--mind you on most months I paid several times the minimum. They continued to debit my account for the minimum, even though their site said the next payment was due in several years.

Again, I tried to get someone's name to resolve this issue, and yet again I was given a canned answer. I asked for the name of the organization who regulated them and was given no answer.

I finally became so frustrated that I paid off the loan in full. There has to be some kind of recourse one can take against this kind of business practice.

Julian of Fullerton CA (04/11/07)
In June of 2005, I attempted to consolidate my undergraduate loans ($16,000) and first year law school loans ($18,000) at the historic low 2.8% interest. At the time, my loans were with Sallie Mae. I attempted to consolidate these loans through a different student loan company, unaware that Sallie Mae was refusing to accept consolidation payments from other companies.

A week or so after my consolidation application was submitted, I was contacted by the company and told that Sallie Mae had prohibited them from consolidatin my loan. Consequentially, I was unable to consolidate with Sallie Mae before the July 1, 2005 deadline. I consolidated the loans, along with my 2L law school loans, in June 2006 at 4.7%.

Over the life of the loans, I will end up paying thousands of dollars in additional interest. Sallie Mae is responsible for this, unless what it did was legal. If so, then the other company is responsible for this, because it should have known that it could not consolidate my loan, and that attempting to do so in late June would leave me unable to consolidate before the July 1, 2005 deadline.

I have the June 2005 consolidation application at home, which has all the information of the company I attempted to consolidate with.

Approximately $35,000 of my loans were consolidated at 4.7%, when they would have been consolidated at 2.8%. The net damage to me will be thousands of dollars in additional interest, compounded.

Kimberley of Novato CA (04/10/07)
My twins gradulated college and have a numebr of student loans through Sallie Mae. We have been harassed at work, at home on Sunday mornings, and via email. We cancelled our home phone and changed email addresses to avoid them. I make monthly payments as per an agreement with them and they are still saying we owe more and more money all the time. I need help at this point to figure out how much my kids and I actually owe them.

In todays mail my son got a notice from an attorney saying he was in default on his loans and they are charging him $1600 in collection fees on top of loans and interest. We are getting buried by this group. Never talk to the same person twice, no one there knows of the payment agreement I made years ago, and the debt is now over $120,000.

My son's account is in default, I can't see how we will ever be able to pay off what they say is owed and my health is suffering from the stress.

Deborah of Oakland CA (04/10/07)

I received a phone call telling me that I owed a pament on my daughters loan. We r