Sallie Mae Student Loan Complaint

Non-federal student loan Dealing with my lender or servicer trouble with how payments are handled

Sallie Mae Student loan department,

Non-federal student loan Dealing with my lender or servicer Trouble with how payments are handled Maine

Sallie Mae has not honored my payment allocation request after repeated written requests submitted with my payment. I want the difference between my amount due and the payment I send in to be applied to the principal balance, yet they continue to apply it to future payments and send me bills with a $0.00 amount due. I continue to make higher payments because they have my payment amount set at $59.00, and the monthly interest/fees are $58.00. At that rate it would take the rest of my life to pay off this loan. We have called several times and were told they would change the allocation, but they have still not done so.

Sallie Mae customer in Maine
Jul 25, 2016

* Source: CFPB Complaint Database

Sallie Mae response to complaint:
Closed with explanation

Created with Highcharts 4.2.3Sallie MaeComplaint HistoryComplaints12/20131/20142/20143/20144/20145/20146/20147/20148/20149/201410/201411/201412/20141/20152/20153/20154/20155/20156/20157/20158/20159/201510/201511/201512/20151/20162/20163/20164/20165/20166/20167/20168/20169/201610/201611/201612/20161/20172/201705101520Source: Consumer Financial Protection Bureau
Created with Highcharts 4.2.3Sallie MaeDealing with my lender or servicer71.7%14.3%10.6%3.4%Closed with explanationClosed with monetary reliefClosed with non-monetary reliefIn progressSource: Consumer Financial Protection Bureau
Created with Highcharts 4.2.3National AverageDealing with my lender or servicer0.7%81.6%6.3%9.6%1.9%0.1%ClosedClosed with explanationClosed with monetary reliefClosed with non-monetary reliefIn progressUntimely responseSource: Consumer Financial Protection Bureau

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