SLM CORPORATION
Consumer Complaints
There are over 1991 complaints on file for SLM CORPORATION. Dated between 2019-11-26 and 2012-03-06.
Complaints Page 3
2019-09-21
Haskins, OH
Dealing with your lender or servicer
Student loan: Federal student loan servicing
Trouble with how payments are being handled
Complaint: I have consistently been paying more than the " monthly amount due '' on my PLUS loan. I understand that while my daughter is in school, I am only required to pay the interest, and expected that the overage was going to the principle. I tried to verify on Sallie Mae 's website that the overages were going to principle, but their website is very hard to navigate.
Today, I looked into it further and found that my " monthly amount due '' is less than my " unpaid interest and fees, '' therefore the overages were not going toward the principle.
I think Sallie Mae 's billing is purposefully deceptive and their website is purposefully hard to navigate.
Paying for a college education is hard enough without the lending institution misleading their customers.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-09-20
GA
Dealing with your lender or servicer
Student loan: Private student loan
Trouble with how payments are being handled
Complaint: I was enrolled in the Auto Debit program with Sallie Mae to repay my loan. Payments are taken automatically on the 17th of every month. I re-enrolled in school full time and finished that process in XXXX. Classes started XX/XX/XXXX, which would be the date my loans went into deferment as well. On Thursday, XX/XX/2019, I checked my bank account and Sallie Mae had taken the Auto Debit payment, though they shouldnt have, and put my bank account in overdraft of over - {$200.00}. I contacted support that same day and they confirmed it should not have been taken out. They submitted the request to refund the payment but said it would take 3-5 business days. I checked my bank account the next morning, Friday, XX/XX/2019, to see if my direct deposit from work had been deposited, and I discovered a new overdraft fee from my bank plus my entire paycheck from work was applied to the negative balance. Because of Sallie Mae and their mistake, my entire check from work was applied to the negative balance, as well as the {$35.00} overdraft fee that I wont be reimbursed for once Sallie Mae refunds me, and any business I need to handle with my paycheck wont be taken care of resulting in even more late fees, and there is nothing I can do about it.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with monetary relief
2019-09-18
Coral Gables, FL
Getting a loan
Student loan: Private student loan
Denied loan
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-09-16
Havertown, PA
Managing an account
Checking or savings account: Checking account
Banking errors
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-09-14
Wallington, NJ
Dealing with your lender or servicer
Student loan: Private student loan
Need information about your loan balance or loan terms
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-09-13
Lawrence, NJ
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
2019-09-12
Jupiter, FL
Took or threatened to take negative or legal action
Debt collection: I do not know
Threatened or suggested your credit would be damaged
Complaint: XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, Fl XXXX Phone : XXXX Email : XXXX Ref. : Complaint against SallieMae reporting Dear Sir or Madam, I am writing to dispute the information related to a loan number XXXX XXXX XXXX XXXX of the amounts {$18000.00} that SallieMae charge without my knowledge. The first time that I received an email from that financial institution I did not answer because I thought that was a mistake until I noticed it reported me to the credit bureaus.
SallieMae has associated my name with a certain XXXX XXXX, one of my classmates at XXXX XXXX XXXX who used to study with me. In all likelihood, this gentleman would steal my identity to go take a loan. Despite of my last name, I do not have anything to see with that borrower who is just a fraudster or identity thief.
In spite of the emails received from SallieMae, I never wanted to contact the bank to not have difficulties. The Financial Institution has destroyed my credit score by reporting me unfairly to the credit bureaus. As you can see, other than this incident, I am a valuable customer and I pay my debt pretty much on time.
With these considerations, I am requesting that your department reinvestigate this matter, the disputed item as soon as possible, and that the item be deleted from my credit record to correct the information.
Enclosed are copies of supporting my position.
Sincerely, XXXX XXXX XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-09-11
Decatur, 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
2019-09-10
PA
Communication tactics
Debt collection: Federal student loan debt
Frequent or repeated calls
Complaint: On XX/XX/2019 in the morning, Sallie Mae called all my family members about a payment that was due. I did not authorize them to call all my family members.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-09-10
Estero, FL
Struggling to repay your loan
Student loan: Federal student loan servicing
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
2019-09-10
Managing an account
Checking or savings account: Other banking product or service
Deposits and withdrawals
Company Response: Company believes the complaint is the result of a misunderstanding Closed with explanation
2019-09-09
Chicago, IL
Struggling to repay your loan
Student loan: Private student loan
Can't get other flexible options for repaying your loan
Complaint: I currently have six loans with Sallie Mae. It is difficult for me to remain cordial while submitting this complaint due to the incredible weight of stress this company has caused me ( and many others ) throughout the student loan process. Thank you for taking the time to review this submission.
It took me months of self-educating and dead-end calls to finally enroll myself into a graduated repayment plan with Sallie Mae. At the start, I was set up to be paying almost {$900.00} PER MONTH to Sallie Mae simply to stay out of delinquent status. The lowest I could get it was {$460.00}, which I am slated to begin paying in XX/XX/XXXX. This also-high payment will only cover my interest, which ranges on each of the six loans up to a ridiculous 12.8 %. 12.8 % on a STUDENT LOAN. ( This alone is cause for complaint. ) {$460.00} is still incredibly high, as I am already struggling to pay rent. I have called Sallie Mae to try to both reduce my monthly payment and reduce my interest loan, and they seem completely incompetent, restricted under regulations and protocols.
Today, I called yet again and was told that I can not submit a complaint or receive help/guidance/options/information UNTIL I AM DELINQUENT. I was essentially told to call back in two months, once my payments are behind and I am in poor standing with the company. This means that I can not be proactive, or work ahead to make sure I am in good standing credit-wise. It also means that I will be the one " at fault, '' even though I have worked tirelessly to resolve the issues BEFORE they arise. Perhaps this is the way of student loan lenders, but if so, something needs to change. I find it absolutely appalling that a person can not advocate or be responsible for their financial situation in advance of things being destructive. On top of that, Sallie Mae is basically communicating that they do not care about the stability or financial stress of their borrowers. As of now, I can not plan or foresee what challenges I will face in XX/XX/XXXX. I have no idea if I will actually even be helped once that time comes. And based on my previous experience with Sallie Mae, whatever alternatives are offered to me will likely NOT be helpful. It is deeply concerning that I am only one of MANY recent graduates experiencing this type of stress under major greedy lenders such as Sallie Mae.
I am not sure what can be done, as I have been trying desperately to be proactive for the last nine months, and still things are in horrible condition. However, I do hope that this submission can be taken seriously, and that we as a culture and society can begin to realize the weight of student loans and the adverse effects of that weight on our entire economy. In just three years, I have already accumulated nearly {$4000.00} IN INTEREST ALONE with Sallie Mae. Each month, more than {$400.00} of interest is added to my debt -- not counting my federal loans. This is CRIMINAL. The fact that this is acceptable needs legitimate consideration.
Thank you for your time, and I do sincerely hope that changes can be made.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-09-05
Arsenal, 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
2019-09-05
FL
Struggling to repay your loan
Student loan: Private student loan
Problem lowering your monthly payments
Complaint: We tired extremely hard working with Salle Mae they refuse, they robo call us daily sometime 10 times daily, ringing us all day
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-08-31
Wake Forest, NC
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 is the result of an isolated error Closed with explanation
2019-08-27
Cedar Rapids, IA
Threatened to contact someone or share information improperly
Debt collection: Credit card debt
Contacted your employer
Complaint: Sallie Mae debt collector called my work at XXXX on Tuesday, XX/XX/2019 leaving a message stating " it is really important that you call her back. She will be there until XXXX XXXX '' The same person called my husband leaving a message on his phone stating the same thing. He suffers from XXXX from serving in the XXXX for 11 years and does not handle stress at all. This just added to his issues. I am enrolled in the XXXX XXXX XXXX program and have been making all of my payments since beginning. I can not have them call my work. I can not have them call my husband.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-08-22
IL
Struggling to repay your loan
Student loan: Private student loan
Can't get other flexible options for repaying your loan
Complaint: I accepted this loan offer as a student at University of XXXX, XXXX XXXX program for a simple continuing XXXX certification, which was not received. I completed 5 courses out of 6, and had to move out of state because I could not afford to live in California anymore. I have paid the required monthly payments to Sallie Mae for this loan since it was disbursed over 6 years ago and never was late. I have paid off this loan in payments totaling over {$6000.00} which was the amount disbursed. Yet, my balance due is over {$6000.00} so my payments went strictly to interest all these years and will continue to go to interest only. I feel this is fraudulent and unacceptable behavior. THey have refused to lower my interest rate or do anything to apply my payments to the principal balance. I feel like this loan should be considered PAID IN FULL.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-08-22
CT
Dealing with your lender or servicer
Student loan: Private student loan
Trouble with how payments are being handled
Complaint: I switched jobs and informed sallie mae i would not be able to pay on time. They told me that I would have a 15 day grace period and their would be a late fee. I said i would not be able to make it in that window. They said too bad you'll need to speak to collection the person i spoke with refused to let me speak with his supervisor. Wait a week until your bill os past due. When i called i discovered that my $ XXXX monthly bill had a late fee which doubled it to XXXX. I sat on hold trying to get to collections for over an hour. I used their online customer service to temporarily change my payment plan. However my complaint is bring filed due to the predatory nature of their practice.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-08-21
Houston, TX
Threatened to contact someone or share information improperly
Debt collection: Federal student loan debt
Talked to a third-party about your debt
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-08-20
Wesley Chapel, FL
Struggling to repay your loan
Student loan: Private student loan
Can't get other flexible options for repaying your loan
Complaint: I am a XXXX XXXX VA XXXX XXXX veteran. I am cosigned/paying for two separate student loans for my Son whom is attending XXXX XXXX University in XXXX. I am unable to negotiate a lower interest rate. Nor am I able to make these loans not count so harshly against my credit score. I have done all that I can in dealing with Sallie Mae. I don't know what I don't know and I am really just trying to get the best advice and interest rate possible. Please advise The two loans combined exceed {$47000.00}
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-08-19
Managing an account
Checking or savings account: CD (Certificate of Deposit)
Problem accessing account
Company Response: Company believes complaint represents an opportunity for improvement to better serve consumers Closed with explanation
2019-08-19
Fort Drum, NY
Struggling to repay your loan
Student loan: Private student loan
Problem lowering your monthly payments
Complaint: Many times I have tried lowering my payments and the only way to do so is getting on a forbearance payment plan. The last one I was on ended abruptly with no calls or emails informing me of the changes to my account in XX/XX/XXXX. I started a new ‘payment plan’ (forbearance) that would lower my payments to $XXXX a month, but the very first auto debit they took $XXXX! I called and the woman on the phone said “I have no idea why they took so much” and never found out why. The best she could do for me was putting in a “refund request” for the difference with no promise of refund, and no proposed timeline. Now I’m out all of that money and unable to pay other bills NOT because of my inability to budget but because of a computer error in Sallie Mae’s system that allowed them to just TAKE my money. I have since cancelled auto debit and will now only pay them the agreed upon amount on the agreed upon date.
Company Response: Company believes complaint is the result of an isolated error Closed with non-monetary relief
2019-08-18
Bronxville, NY
Incorrect information on your report
Student loan: Private student loan
Account information incorrect
Company Response: Company believes complaint represents an opportunity for improvement to better serve consumers Closed with explanation
2019-08-16
Library, PA
Dealing with your lender or servicer
Student loan: Private student loan
Received bad information about your loan
Complaint: As cosigner of three student loans I am unable to be released after submitting the proper paper work. There have been no late payments on the loans and no credit issues that would prevent release. Sallie Mae is simply denying release. They will not even consider one of the three loans.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-08-13
AL
Incorrect information on your report
Student loan: Private student loan
Account information incorrect
Complaint: I have been reaching out to Sallie Mae for over a year to resolve this matter.
I called to process a payment over the phone and the representative updated my bank account information with an incorrect number...
I was not made aware of the error until the payment was declined due to error message "Account Not Found"
I asked the rep on the phone to repeat the account number back several times; however, she ensure it was correct.
Well about 38 days later they updated credit report as late because of their own personal error on 3 of my accounts...
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation