Review and analysis of over 25 complaints against Sallie Mae
Sallie Mae consumers have reported over 25 official complaints related to Trouble with how payments are handled. Out of the 25 consumer complaints against Sallie Mae, 8% were disputed by the consumer (i.e. the consumer was not happy with how Sallie Mae responded to their complaint) and 100% were processed in a timely manner. 8% of consumer complaints against Sallie Mae resulted in the consumer receiving monetary compensation (e.g. money, cash reimbursement, etc.) and 8% resulted in non-monetary compensation.
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Sallie Mae Student loan dealing with my lender or servicer trouble with how payments are handled February 15, 2017 - Sallie Mae did not send my - statement. They sent a letter stating that i paid $3900.00 and $11000.00 in eligible interest but the letter was to my co-signer and it says that the borrower has to obtain a copy of the - but I the borrower was not able to log in to the website to print it because i am no longer a customer and she stated that i did not pay any interest off and that the loan was simply paid off.... |
Sallie Mae Student loan dealing with my lender or servicer trouble with how payments are handled January 26, 2017 - I enrolled in student loan thru sallie mae in -/-/2014 When my loan came due it was very difficult to understand how to enroll in my repayments options ( income driven vs normal ) as well as enrolling the proper account to use in the repayment.... |
Sallie Mae Student loan dealing with my lender or servicer trouble with how payments are handled January 19, 2017 - I am a cosigner on - Sallie Mae/- loans and have been in dispute with them for about 2 years. I will be brief. Payments were made during the student 's college years equal to or greater than the amount of the monthly interest so that principal would remain at v\borrowed amount. After -, wehn the repayment period began monthly invoices began to come stating " Amount Due '' and whatever the figure was - and " Minimum Due '' as -. I called literally dozens of times asking how minimum due could be - and never got a consistent answer. Scripted call center workers could not answer e... |
Sallie Mae Student loan dealing with my lender or servicer trouble with how payments are handled January 5, 2017 - I have had - private student loans with Sallie Mae since -. These loans were reportedly, by Sallie Mae, paid on time, until late -. Payments of $50.00 a week were sent, which more than covered the agreed amount due each month. For 6 years, Sallie Mae only applied the exact amount due each month to the loans, and placed the residual funds in some sort of overpayment account. The loans, for some reason, started to turn up past due, and I discovered that more than five thousand dollars were sitting with their company and not applied to my loans. I was charged interest on a higher pri... |
Sallie Mae Student loan dealing with my lender or servicer trouble with how payments are handled December 6, 2016 - For the second consecutive month, Sallie Mae has incorrectly and falsely reported my payment status to the credit bureaus that they report to.... |
Sallie Mae Student loan dealing with my lender or servicer trouble with how payments are handled November 16, 2016 - My payment was applied incorrectly. I applied $1300.00 to # - and $400.00 to # -. I then received confirmation emails supporting this. Somehow, the entire $1700.00 was applied to # -.... |
Sallie Mae Student loan dealing with my lender or servicer trouble with how payments are handled October 26, 2016 - I have - loans with SallieMae. Each are enrolled in auto-debit and have been for more than a year. This is confirmed in my account information available online and has been verified during a multiple calls with their customer support. Despite being enrolled in auto-debt, the accounts do not auto-debit and I receive a call from SallieMae that I am delinquent on my account every month. I believe this practice is intentional in an effort gain more interest on my accounts.... |
Sallie Mae Student loan dealing with my lender or servicer trouble with how payments are handled September 3, 2016 - I obtained several loans through Sallie Mae to help pay for school, - to be exact. The time is coming for repayment, I received a statement of what I would have to pay ( it was an outrageous amount ), so my grandmother kindly helped me and paid for two months, around $660.00 total. It turns out that Sallie Mae did not apply that amount evenly to all the loans and - of them became outstanding. I have called several times to have this issue fixed and it is STILL outstanding. Now they are lowering my credit score due to this issue that is completely THEIR fault. Additionally, they are als... |
Sallie Mae Student loan dealing with my lender or servicer trouble with how payments are handled August 23, 2016 - I was speaking with Sallie Mae on repayment options, as I was unemployed following graduation. I was unable to meet the $ -+/month payment and was asking what my other options were. I was specifically advised to let my account run over, as in not meet the payments, because Sallie Mae would not work with me on changing payment options until I was overdue. After two months I tried to reach customer service once again and was directed to Collections, who informed me that I had to make my loans current before I could begin any sort of payment change option. After explaining the advice I was pre... |
Sallie Mae Student loan dealing with my lender or servicer trouble with how payments are handled July 25, 2016 - 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, bu... |
Sallie Mae Student loan dealing with my lender or servicer trouble with how payments are handled July 7, 2016 - As of -/-/2016 all of my students loans were paid off at Sallie Mae. Currently, I have an overpayment balance of $1300.00 that Sallie Mae owes me. They do NOT provide an email service to answer questions ... Every time I call I can either not get a person ( only automated ) or I ca n't get through ( put on hold for around 30 minutes twice already ). My interest rate was also sickening on all loans. This company should be shut down for the way they treat people trying to make a better life for themselves.... |
Sallie Mae Student loan dealing with my lender or servicer trouble with how payments are handled July 5, 2016 - Paid student loans to Sallie Mae ( I 'm co-signer for my son ) - - separate loans beginning -/-/-. - began -/-/- when I paid the installment payments for the the - loans through my banks bill pay system. Sallie Mae lost - of the checks and asked that the bank send photo copies of issued checks to which my bank said it was unable. Sallie Mae requested the checks be voided and reissued. To avoid the problem repeating itself ( lost checks ) I submitted payment electronically in one lump sum for the - loans whose payments were lost. Between the - check for - of the l... |
Sallie Mae Student loan dealing with my lender or servicer trouble with how payments are handled June 20, 2016 - I am the co-signer on my daughters student loan with Sallie Mae. Her loan payment should have been made in -/-/- and my daughter was having trouble. She called and called ; they were rude and demanding ; not wanting to listen to her. After about 6 times calling she final was able speak with a manager. They talked on - -, 2016 at -. and the call lasted 24 minutes. They worked out a payment plan that started on - -, 2016 and ends on - -, 2016. Then, they would reexam her finances or continue with that amount and only the date might change. I also spoke with them on -... |
Sallie Mae Student loan dealing with my lender or servicer trouble with how payments are handled May 5, 2016 - I have - loans ( we 'll call them the " - '' and " - '' loans ) with Sallie Mae currently- they 're under the same account, but for - different school years. The - loans have their own cosigners, - who have been making monthly payments on their respective loans. We do not use Sallie Mae 's automatic Bill Pay option, as the cosigners would rather have control of the flow of payments through their own banks. Over the past several months, whenever a check was sent to Sallie Mae to pay for the - loan, it was always allocated to the - loan, instead. As a result, my - co... |
Sallie Mae Student loan dealing with my lender or servicer trouble with how payments are handled April 20, 2016 - The lender Sallie Mae stated that they were unable / unwilling to follow my written payment allocation instructions. I used the CFPB guidelines for my instructions found at http - Dear Sallie Mae , Inc. , I am writing to provide you instructions on how to apply payments when I send an amount greater than the minimum amount due. Please apply payments as follows : 1. After applying the minimum amount due for each loan, any additional amount should be applied to the principal of the loan that is accruing the highest interest rate. 2. If there are multiple loans with the same interest rate, pl... |
Sallie Mae Student loan dealing with my lender or servicer trouble with how payments are handled March 17, 2016 - I took a $5000.00 loan from Sallie Mae. I faithfully made payments for 5 years. My father passed and I had to quit working and move in with my mother. The loan defaulted. They are now demanding I pay it in full and will not offer reasonable loan repayment options. ... |
Sallie Mae Student loan dealing with my lender or servicer trouble with how payments are handled February 27, 2016 - I signed up for auto payment on my Sallie Mae account, to take advantage of the reduced interest. Because Sallie Mae does not allow me to set up my own auto payment amount, the $25.00 dollar payment is not enough to cover the interest. So I have tried to ways to make additional payments to pay down the principal. One way is through the Sallie Mae site, but my payment was used for interest. When I called Sallie Mae, they said that it was because I paid before the due date that I should use my banks Bill pay. I have now used my bank bill pay, and my payment was still used for interest. I calle... |
Sallie Mae Student loan dealing with my lender or servicer trouble with how payments are handled February 10, 2016 - As a young person in today 's rapidly growing world I took it upon myself to get a degree to better my chances at having a better future. Unfortunately during my time at - College and - University I found myself, like most blue collar students, having to borrow money to make it through. I was told that not alot of places will lend to a student who does not have a high credit score, this made things more tense, until I was told that Sallie Mae could help. This was not really a blessing but a curse in disguise. At this time I was working a part time job as a - not making anything and ... |
Sallie Mae Student loan dealing with my lender or servicer trouble with how payments are handled February 8, 2016 - I do not receive statements/bills or any other documents from SallieMae. This has been going on for a year and is still not fixed. My - 2016 statement was not even sent or generated on my account in a PDF for me to view, so my payment was late. I 've called numerous times and the customer service people just ask questions, procedure I get it, but after that tell me everything looks fine. I 've changed how I receive information to paper form and that has not helped, in fact - 2016 should have been the first paper form and as I said, that was never sent. The representatives become rude whe... |
Sallie Mae Student loan dealing with my lender or servicer trouble with how payments are handled January 28, 2016 - I went to the - University ( - - ) and had to pull out loans through Sallie Mae. Its really hard to now pay these bills which is hurting me financially. I need help and need to refinance them but no one can help and sallie mae is horrible and does not want to help. ... |
Sallie Mae Student loan dealing with my lender or servicer trouble with how payments are handled December 25, 2015 - I am a - returning to college. I am waiting to see what my federal loans will be for this semester. My family and I have been harrassed with insessant phone calls by Sallie Mae to begin making monthly payments, starting at $420.00. I am employed part-time and can not afford this. When I expressed that I could n't afford monthly payments, they offered defferement for $100.00. When the agreed date for the payment passed, they claimed they did not recieve the payment. I now owe $100.00 plus the $ - monthly payment to be allowed defferment again. I can not afford to pay this. Speaking ... |
Sallie Mae Student loan dealing with my lender or servicer trouble with how payments are handled December 17, 2015 - We ( my son & I - as co-signer ) have - loans w/ Sallie Mae - Last month - they took the - payments sent ( - check for each loan ) and applied them both to the same loan. In their system - this triggered a 'Late Payment ' on the - loan that received 'no payment ' and started an incessant series of phone calls to both my son & I. Their error was pointed out to them within a week and - despite the promise of the error being corrected on their end.. the phone calls kept coming ( - - - calls per day.. to both of us! ) Two weeks later.. we were still getting the calls and th... |
Sallie Mae Student loan dealing with my lender or servicer trouble with how payments are handled December 16, 2015 - 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 poss... |
Sallie Mae Student loan dealing with my lender or servicer trouble with how payments are handled November 24, 2015 - I have - loans that I make auto-payments on every month from Sallie Mae. I was told my account was " delinquent '' due to non-payment for four months. This was not true because there was money deducted every month from my checking account along with updated payment history on SallieMae.com. Interestingly enough, the person that was " handling '' my account admitted it to being Sallie Mae 's mistake. She also said she 'd make sure that the mistake would not be reported on my credit report. Fast forward to two months later and the issue was placed on my credit. I have gone through so much wit... |