Sallie Mae Student Loan Complaint

Non-federal student loan Can't repay my loan can't decrease my monthly payments

Sallie Mae Student loan department,

Non-federal student loan Can't repay my loan Can't decrease my monthly payments North Carolina

I graduated from college in 2015 and I took out private loans through Sallie Mae throughout my four years. I was - and my parents cosigned with me. I have been paying more loans for a little over a year now. In that time I have paid over $6500.00 just in interest rates. I am currently paying $670.00 a month just for my private loans this does not include my federal loan of $180.00 per month. I have called multiple times to Sallie Mae to refinance or consolidate or receive income based payments. I was told we do not offer any of those things. I have also have tried to refinance through a bank which I was denied for because of my debt-to income ratio. I currently work at a job where I make $- an hour. This is the only job I could get out of college in my field at an entry level position. I am currently struggling to live because of my student loans. Paying $850.00 a month is not acceptable. I have barely paid anything to the principle because my interest rates range from 8.5-9.875 %. I have payments of $0.00 going toward the principle. Please help me!

Sallie Mae customer in North Carolina
Jan 24, 2017

* Source: CFPB Complaint Database

Sallie Mae response to complaint:
Closed with explanation

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