Sallie Mae Student Loan Complaint

Sallie Mae Student loan department,

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

My daughter attempted to pay off her student loan on -/-/2015 using the " current amount '' on the Sallie Mae website. The account has a daily accrual rate but nowhere on the payment site ( i took screenshots ) does it state that this is really not the " current amount ''. We later found from " escalation department supervisor - - '' that the " current amount '' is simply the last statement balance amount. To complicate matters, Sallie Mae, withdrew the amount out of the wrong account which of course created insufficient funds fees and of course more accrued daily interest. The possibility of selecting the wrong account was entertained by Sallie Mae. However, paying off your student loan is a huge accomplishment and my daughter and her mother worked together to celebrate this event. The account had been auto debiting from her personal checking account for months and when the


Although the amount of interest is not even close to the payoff amount, it is still her hard earned money ( plus $30.00 ISF charged to her mother and I ) plus an additional $45.00 in accrued interest. After 4 phone calls the problem is still not corrected, her loan still not paid, due to Sallie Mae waiting to receive notification from our bank that the money was not in the account they tried to debit before they can do anything. I am simply wondering, as of -/-/2015 how many kids this has happened to and how much extra money Sallie Mae has collected when the consumer gets frustrated and just gives up. The consumer of Sallie Mae is encouraged to use auto debit ( website ) however this access method is not accurate and misleading. Consumer beware!