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

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