SLM CORPORATION

2017-09-12

Cumming, GA

Dealing with your lender or servicer

Student loan: Private student loan

Trouble with how payments are being handled
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2017-09-07

Chicago, IL

Dealing with your lender or servicer

Student loan: Federal student loan servicing

Don't agree with the fees charged
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with monetary relief

Timely Response

2017-09-05

Federal Way, WA

Struggling to repay your loan

Student loan: Private student loan

Can't get other flexible options for repaying your loan
Complaint: I am writing to request the income based repayment option that Sallie Mae assured would be possible when I originally took out these loans. I graduated in XX/XX/XXXX and have obtained a job making XXXX a year, which does not afford me the ability to make the full payment without an income based payment plan. Since graduation, I have attempted to work with Sallie Mae without success. Since I can not afford to pay my whole paycheck, I utilized the rest of my forbearance in hopes of a better option. I also contacted Sallie Mae to discuss whether there were any options left to me, since when I took out the loans, I understood that there would be repayment options like income-based repayments, that would allow me to pay on principal and interest at a lesser amount. I have now been told that this is not the case. In XX/XX/XXXX, a Sallie Mae representative spelled it out like this on the phone, I was only given the following repayment options : 1. Take the last of my forbearance option to stall payment during that month of hardship 2. Go to a third part institution and try to refinance my loan 3. Default and hope that once the loan is in debt collection, there might be other payment plans offered to me And that was it. Sallie Mae 's tactic, find a way to pay the balance, refinance through a different company or go to collections to see what repayment options are left to me. None of these ideas are remotely close to the repay back options I was told would exist when signing up. Instead, I am left with horrible options that risk my credit and livelihood. Due to questionable business practices on your end, I am carrying the burden of more student debt then I should ever had been issued. I would pay the amount back, if I ever could touch principal balance and start paying my debt. Instead youve made it impossible to succeed in payments, inflated the amount of debt I owe with added fees and regulations and have pretty much guaranteed my failure at repayment. These are questionable practices in trying times and I thought that you should know about it.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2017-09-05

Dealing with your lender or servicer

Student loan: Private student loan

Keep getting calls about your loan
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2017-09-05

Staten Island, NY

Struggling to repay your loan

Student loan: Private student loan

Problem lowering your monthly payments
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2017-09-05

Bradley, WV

Struggling to repay your loan

Student loan: Private student loan

Can't get other flexible options for repaying your loan
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2017-08-31

Joliet, IL

Improper use of your report

Credit reporting, credit repair services, or other personal consumer reports: Credit reporting

Credit inquiries on your report that you don't recognize
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2017-08-29

Moapa, NV

Dealing with your lender or servicer

Student loan: Private student loan

Trouble with how payments are being handled
Complaint: After numerous harassing calls, I have decided to set up an account with my bank to make monthly. To stop their " bleeding calls '', I called to tell them of my intent to start monthly payments beginning XXXX XXXX of 2017. I was shocked when I was told to give them my card or account number to make the first payment so they can forgive the past due amount. I offered to sen a check, but that was not good enough. They wanted all the information over the phone immediately. Sounds fishy to me. They even offered to wait two weeks to charge my account. Makes no sense.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2017-08-29

WA

Dealing with your lender or servicer

Student loan: Private student loan

Trouble with how payments are being handled
Complaint: X/XX/2017 - I logged into my account to check the amount I owed this month and the amount had nearly doubled. I checked the interested rate, and it was n't that much more than it was the prior month. Furthermore, I decreased the amount I owed below what the original loan amount was, so it did n't make sense that my loan payment amount nearly doubled in the course of a month. I have n't spoken to the lender yet because I am worried they will deny it. I 'm concerned that I am being punished with higher payments because I pay more than my minimum monthly payment. Basically, I think they are punishing me for trying to pay my loan off early.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2017-08-29

OH

Struggling to repay your loan

Student loan: Private student loan

Problem lowering your monthly payments
Complaint: The original Loan ( XXXX ) in XX/XX/XXXX was for disbursement from Salie Mae was {$10000.00} with a 9.25 % interest rate deferred until leaving school. The pymts began in XX/XX/XXXX & since the interest rate has increased to 10 % & the amount went from {$130.00} to {$140.00} with a current balance of {$10000.00} as of XX/XX/XXXX The 2nd loan ( XXXX ) was for {$7600.00} in XX/XX/XXXX with a 9.625 % also deferred. The current balance is {$7500.00}. The pymts began in XX/XX/XXXX at {$93.00}. The interest rate is now 9.875 % with pymts of {$98.00} The 3rd loan ( XXXX ) was in XX/XX/XXXX from Salie Mae for {$4000.00} with a 7.25 % also deferred. The current balance is {$3200.00}. The pymts began in XX/XX/XXXX were at {$50.00}. The interest is now 8.25 % with pymts at {$51.00}. As you can see no matter how I try the interest & pymts go up & the balance hardly decreases. When Salie Mae was contacted I was told that this is what I needed to pay & they would not change anything. Additionally the interest rates would continue to increase so I would owe more. This is a co-signed loan. I am XXXX XXXX 's Grandmother so it is becoming increasingly difficult to pay. He is still only at entry level at the job he has from his education & it is difficult for him to pay rent etc & give me money for the loans. I do not understand how they can continue to increase % 's as I pay each month. I asked the criteria about that & got nowhere.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2017-08-28

Struggling to repay your loan

Student loan: Federal student loan servicing

Can't get other flexible options for repaying your loan
Complaint: I continue to receive calls and letters from Sallie Mae / XXXX. I have made several attempts to speak with a representative to enroll in repayment plans. The representatives states that they do not offer income based repayment plans only short term forbearance payment plans. I have be ignored of my complaints, they have provided inaccurate information and offered only high cost repayment plan. My research of my loan compared to other student loans I received a subprime high interest rate and terms. My co-signer has made request to become released from the loan and has been ignored of her attempts. I am interested in the income based repayment plan. ( PAYE ).
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2017-08-24

Bronx, NY

Improper use of your report

Credit reporting, credit repair services, or other personal consumer reports: Credit reporting

Credit inquiries on your report that you don't recognize
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2017-08-23

MI

Dealing with your lender or servicer

Student loan: Private student loan

Keep getting calls about your loan
Complaint: I have been working with Sallie Mae on my current student loans and from XXXX of 2017 to current. They have received information from public records and have been harassing my ex-family members. They have not been authorized to use this information and it was not given to them by me or the co-signers on my loan. I believe they are taking private information of people I may know and using it without their knowledge. Sallie Mae is already under a class action lawsuit.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2017-08-22

Manteno, IL

Dealing with your lender or servicer

Student loan: Private student loan

Trouble with how payments are being handled
Complaint: I co-singed on a Sallie Mae loan for my son while he was attending XXXX University. He has struggled to find a job after XXXX and we were allowed to set up his loan on a loan modification program. Payments were set up on a direct debit out of his account. After 4 or 5 months the direct debits stopped. After calling and inquiring why this was the case we were informed that they had removed him from the program because " he was enrolled in school. '' He has never been enrolled in school after XXXX. For the last 6 - 8 months I have been calling Sallie Mae and fighting to reinstate his loan modification. Each time I all I am assured that he is still in the program, they do n't understand what happened, they need to research the problem, and someone will call me back. This never happens. Sallie Mae has a record of all of my phone calls and they know exactly what is going on yet they refuse to honor their commitment and follow through on the loan modification program they set up. This is affecting my credit and my sons.
Company Response: Company believes complaint is the result of an isolated error Closed with explanation

Timely Response

2017-08-22

San Francisco, CA

Struggling to repay your loan

Student loan: Private student loan

Can't get other flexible options for repaying your loan
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2017-08-22

East Rockaway, NY

Dealing with your lender or servicer

Student loan: Private student loan

Trouble with how payments are being handled
Complaint: As a typical XXXX grad of the modern century, i have XXXX loans taken out for my entire college career. one from the Dept of education, one from discover, and the last with Sallie Mae. Also, typical to college grads, i elected NOT to consolidate my loans because i have intentions of going back to school to pursue my medical license and begin practicing Veterinary Medicine. The issue that im having however is balancing paying my three student loans because SALLIE MAE has been taking money directly out of my bank account ( NOT PAYCHECK ) for the sum of $ XXXX. This is an issue because i never authorized automatic payments to be made. So today, when i went to make a payment to my XXXX student loans, i found out that my bank account is now on their prohibited list because of Sallie mae constantly taking money out, leaving my bank account in the NEGATIVE therefore leaving discover without a payment! SO now because of this unauthorized deduction, my discover loan is in the process of defaulting, because of that, i may not be eligible to apply to XXXX XXXX. Sallie mae is literally destroying my life and is making me regret my entire decision of attending college. After SEVERAL attempts to talk about this topic, im becoming more and more upset. once a Sallie Mae rep hears me begin to discuss my concern, they put me on hold and they never have someone answer me. i currently work in a XXXX XXXX XXXX doing 12 hours shifts, so my time is EXTREMELY valuable ... sallie mae has driven my ability to manage my finances into the ground.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2017-08-21

Lafayette Hl, PA

Dealing with your lender or servicer

Student loan: Private student loan

Trouble with how payments are being handled
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2017-08-19

Belle Haven, VA

Dealing with your lender or servicer

Student loan: Private student loan

Received bad information about your loan
Complaint: I recently contacted Sallie Mae and I was told my account is up to date, I do admit to being late because Sallie Mae will not work with me and has made me choose between medication and doctor 's appointments over their payments and has refused to work with me on trying to lower the payment. Well my account is still showing a past due amount on my credit report so I asked XXXX to request updated information from Sallie Mae and Sallie Mae told XXXX that my account still has a past due balance instead of showing that the account was paid up to date last month. Is this not illegal and considered libel if last month, the reported information should show the past due amount was paid yet purposefully refused to fix this when requested.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with non-monetary relief

Timely Response

2017-08-16

Del Valle Finance, CA

Incorrect information on your report

Credit reporting, credit repair services, or other personal consumer reports: Credit reporting

Account information incorrect
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2017-08-16

Trenton, NJ

Dealing with your lender or servicer

Student loan: Private student loan

Trouble with how payments are being handled
Complaint: for the past 3 months I have dealt with numerous customer service representatives. more than one has told me incorrect information and they are all on different pages. I was told if I make a payment of XXXX and signed up for automatic debit my account would be brought current by two different representatives which I can provide dates for. after each time a week later someone calls to tell me that the payment arrangement is not going to work and to call them back to keep going through the cycle. I keep telling them I can not afford to pay them a XXXX dollars to make the account current I can only afford my monthly payment of XXXX while they keep playing around my account goes further and further past due. I 'm frustrated and no one in customer service seems to know what they are doing.
Company Response: Company believes the complaint is the result of a misunderstanding Closed with explanation

Timely Response

2017-08-16

Oak Glen, CA

Struggling to repay your loan

Student loan: Private student loan

Can't get other flexible options for repaying your loan
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2017-08-14

Chicago, IL

Dealing with your lender or servicer

Student loan: Private student loan

Don't agree with the fees charged
Complaint: RE : CFPB Complaint - XXXX Sallie Mae has not updated the address as the said they would and have now increased his APR to 10.25 % ( XXXX ) and 8.250 % ( XXXX ) although they know he is XXXX in the XXXX XXXX as a XXXX. I am paying on his account and handling his finances while he away.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2017-08-11

Bosqueville, TX

Struggling to repay your loan

Student loan: Federal student loan servicing

Problem lowering your monthly payments
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2017-08-10

Peshtigo, WI

Struggling to repay your loan

Student loan: Private student loan

Can't get other flexible options for repaying your loan
Company Response: Company believes complaint represents an opportunity for improvement to better serve consumers Closed with explanation

Timely Response

2017-08-09

Douglas, MI

Dealing with your lender or servicer

Student loan: Private student loan

Received bad information about your loan
Complaint: XXXX of 2016 I contacted Sallie Mae Loans in order to follow through with a repayment option. I was only told and directed to forbearance option. No other options were " available '' While the forbearance is intact I was away on military XXXX limiting my interest rate to 6 %. But I returned and thus rejoined going to College at XXXX XXXX University. I contacted the loan provider that XX/XX/XXXX/XX/XX/XXXX time to let them know I would be attending school and would like to know who actually owned my student loan debt as I know they sell them off to other companies. But they did not provide that information and still have not provided that information to me. Also i was interested in getting the in school deferment plan but I was told no such program existed since they were a private loan institution. Now that I know that is false. Had this information been released to be I would have applied for this way earlier and saved money for myself in the long run. I know that Sallie Mae had problems with this earlier as they had legality issues pertaining this recently. This was unfair to me as a citizen, military member and loan holder as I should have been told about my options from the start and they should be easily and readily accessible to me.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response