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 35
2017-01-22
Palmerton, PA
Dealing with my lender or servicer
Student loan: Federal student loan servicing
Received bad information about my loan
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2017-01-22
Kansas City, MO
Dealing with my lender or servicer
Student loan: Non-federal student loan
Trouble with how payments are handled
Complaint: I have been with Sallie Mae since XX/XX/XXXX when I first started college. I have around {$83000.00} of private student loan debt with them due to them raising the interest rates for all of my individual loans which they do not consolidate every month. When I graduated college XX/XX/XXXX Sallie Mae wanted me to pay {$1100.00} a month with a 9-9.75 % interest rate, which was XXXX my monthly income. When I told them I could n't afford that amount they told me there were absolutely no repayment programs I could enter into because they do n't offer any. I had to go into a forbearance period of 9 months in order to figure out how was going to afford these payments. It was n't until 8 months into forbearance ; and calling every week trying to find an affordable solution, that someone in the call center told me that I could apply for a term rate reduction plan. Now all my loans are at 2 % interest rate but I have to reapply and be reevaluated in two years. When I asked what that meant Sallie Mae told me that in two years they would see if they can raise my interest rate back up to 9 % depending on my income earnings. Their program will keep me in the same financial hole I am in now trying to just make minimum payments.
Now that I have been enrolled in the term rate reduction plan, the only way I can be kicked out of the program is if I fail to make all my monthly payments but every month ( for reasons the customer service team fail to explain ) my automatic debit has been canceled on some of my loans. Which causes me a huge amount of XXXX because every monthly due date ( the XXXX of each month ) I have to search through which of my loans payment was n't taken out of and call Sallie Mae trying to get them to fix it. Each time I am on the phone with them they either randomly hang up ; the call randomly dropped, or I am shuffled between XXXX-XXXX customer service personal.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with monetary relief
2017-01-22
MO
Can't repay my loan
Student loan: Non-federal student loan
Can't decrease my monthly payments
Complaint: I have had multiple occasions where Sallie Mae has rejected my automatic bank account payments ( which I signed onto solely so I could reduce my rising interest rates ), which then resulted in a $ XXXX/month late fee, a ding on my credit score, and less opportunities to reduce my interest rates. I am currently in a standstill where I have my LOWEST interest rate at just under 8 %, and my highest at 10.25 %. Despite making over $ XXXX a year out of school, I am struggling to pay my ~ $ XXXX/month payment to Sallie Mae, and upon my times of calling have not been offered any solutions to reduce my rates aside from forbearance, which would result in a vast increase in interest buildup and a fee to even begin the forbearance. Sallie Mae has not been able to offer my any repayment options and basically has said that I need to seek outside options to refinance, however I do not have a co-signer figure to do so, and am rejected by said organizations despite on-time payments and my income.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2017-01-21
Collegeville, PA
Dealing with my lender or servicer
Student loan: Non-federal student loan
Having problems with customer service
Company Response: Company believes complaint is the result of an isolated error Closed with explanation
2017-01-21
Oaklevel, VA
Dealing with my lender or servicer
Student loan: Non-federal student loan
Keep getting calls about my loan
Complaint: Sallie Mae has repeatedly called ( telephone ) cosigner to student loan. All payments are current or ahead of schedule. I believe the calls constitute harassment as they frequently interrupt the cosigner at his job. Sallie Mae simply calls and hangs up without leaving a message. There has been no effort on their part to inform us of any issue.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2017-01-21
Pryse, KY
Can't repay my loan
Student loan: Non-federal student loan
Can't decrease my monthly payments
Complaint: When I first began repaying my student loan the payment was XXXX/month at the time I was working part-time with the anticipation of being made full-time, but that had not occurred yet. I called my loan provider immediately and told them ( Sallie Mae ) my situation and I asked them if I could lower my payment for a period of 3-4 months until my pay increased.
They told me no.
My options were forbearance or pay the amount. So, not wanting to affect my credit or increase the amount of interest on my already steep loans - I paid the full amount even though it was a struggle. They were rude, no help and caused a significant amount of XXXX in that situation.
I 've been paying faithfully and my interest rate continues to climb, I have n't made an impact in the balance at all I feel even though I pay monthly. I understand this is my debt, but I 've never had a bank or any provider of a service unwilling to work with a customer on a payment for a month.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2017-01-20
Cuyahoga Falls, OH
Can't repay my loan
Student loan: Non-federal student loan
Can't decrease my monthly payments
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2017-01-20
Co Spgs, CO
Can't repay my loan
Student loan: Non-federal student loan
Can't decrease my monthly payments
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2017-01-20
La Verne, CA
Can't repay my loan
Student loan: Non-federal student loan
Can't get flexible payment options
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2017-01-20
Napoleon, ND
Dealing with my lender or servicer
Student loan: Non-federal student loan
Trouble with how payments are handled
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2017-01-20
Henrico, VA
Can't repay my loan
Student loan: Non-federal student loan
Can't decrease my monthly payments
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2017-01-20
Kingstree, SC
Dealing with my lender or servicer
Student loan: Non-federal student loan
Received bad information about my loan
Complaint: I used Sallie Mae ( XXXX ) as a borrower for XXXX student loans. The first loan covered me from the XXXX school year and the second loan covered XXXX school year. Six months after graduation I was told my monthly loan payments were to total {$920.00}. I was unable to pay that ridiculous amount, which is when Sallie Mae then suggested I enroll in a 3 month forbearance period. In order to enroll it would cost {$50.00} per loan, and that {$50.00} would be credited to the interest of each loan. Once the three months were up I was able to re-enter a period of forbearance while paying the {$50.00} per loan. I was still unable to pay, and was unable to pay for about a year. Sallie Mae offered no alternative in order for me to pay an appropriate monthly cost. Sallie Mae continued to use forbearance as my only option to keep my loans in good standing. Upon entering almost a year of forbearance Sallie Mae notified me that I was no longer eligible to continue enrolling in forbearance. For several weeks I received phone calls everyday at extremely inconvenient times during the evening ( around XXXX ) regarding my loan status from numerous numbers and account managers. At that point, a Sallie Mae account manager suggested that I provide information regarding my financial standing in order to enroll in an income based repayment plan. Every account manager I spoke to provided different information regarding a potential repayment plan. It was rare that I was able to reach the same account manager more than once.I then stated that no one had ever suggested that to me prior to my year of extensive forbearance payments. The account manager made no direct response to that comment, but ensured me that I would now be eligible be to enter and income based repayment plan. I am currently enrolled in a repayment plan that costs me {$310.00} a month for the months of XXXX XXXX, XXXX XXXX and XXXX XXXX, instead of {$920.00} a month. If that program had been offered to me previously I would not have accumulated so much additional interest/debt. At the current moment I am temporarily laid off from XXXX of my XXXX jobs which has changed my financial standing drastically. A day after receiving such news ( XXXX XXXX, XXXX ) I contacted my account manager notifying them of my change in income. Her response was " What do you want to do about it [ the account ]. '' I responded stating " The reason I 'm calling is to discover what my options are. '' She rudely responded that nothing could be done, and if my mother ( co-signer of XXXX loan ) would be willing to help with the payments ''. I feel that the employees of Sallie Mae/XXXX are extremely unprofessional and provide as little assistance with the the repayment processes as possible. As per Sallie Mae, every phone call is recorded which will provide verification of each statement made within this document of complaint. I also have not received any confirmation of payments made for any of the forbearance periods or for the {$310.00} I provided them on XXXX XXXX. It also seems that my documents on the Sallie Mae website regarding my times of forbearance have disappeared from my correspondence summary. Which is why I can not provide supporting documents regarding this complaint.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2017-01-20
PA
Can't repay my loan
Student loan: Federal student loan servicing
Can't decrease my monthly payments
Complaint: I have both Direct and Private loans since I started college back in XXXX when the company was just Sallie Mae. In XXXX when Sallie Mae split into XXXX companies ( Sallie Mae and XXXX ) I was never informed whether that be through email or phone call that my loans will be owed through XXXX separate companies. Due to this fact, I missed payments through XXXX for up to two months. When I was finished college in XXXX, I called Sallie Mae to see what sort of repayment program I could be placed into to help me because at the time I only had a part time job making just over minimum wage. I was placed in the Graduated Repayment Program with an 11.5 % and 8.5 % interest rate and an amount totaling almost {$500.00} plus another {$150.00} for XXXX. I have asked numerous times if there is a program for me to go into that is based on my income and I was flat out told no. My father co-signed my loans and on of of my phone calls when I begged for a better repayment program I was told that my father needs to help me out and I quote " If he loves you enough he will help you for your loans. '' I was completely appalled at this statement from one of the Sallie Mae representatives. Never would I think that it would be ok to tell someone that. I am extremely frustrated, I am behind payments which is ruining my credit and I keep incurring late fees. I 'm not looking for them to forgive my loans, I simply want a more manageable repayment program where I do not spend my entire months paycheck to help pay off my loans.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2017-01-20
ME
Can't repay my loan
Student loan: Non-federal student loan
Can't decrease my monthly payments
Complaint: While out of work and in financial distress, Sallie Mae strongly advised that I consider a forbarence on my loans. I have not been informed of any other payment options. Among this, I inquired on multiple occasions about receiving a reduction in the interest rates on my loans. With over {$70000.00} in loans, they were charging over XXXX % interest. They refused to work with me.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2017-01-20
Point Arena Air Force Statio, CA
Can't repay my loan
Student loan: Non-federal student loan
Can't decrease my monthly payments
Complaint: I have made every single payment on time. I have tried to get them to lower the interest rate ( it 's at 9.75 % ),. The last time I called them, they said there was nothing they could do, they could not refinance my loan, even though I 've paid every singe payment on time for the last 4 years. The gentleman I spoke to said the only way I could get the nterest rate lowered was to " be late on a payment, and then COLLECTIONS will call you, then you can negotiate with them about refinancing ''. Why do I have to go to collections before I can be considered for refinancing? I have a XXXX credit score, there is NO REASON for my interest rate to remain 9.75 %. It will take me XXXX more years to pay off my loan at that rate. Absolutely absurd.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2017-01-20
Gloucester City, NJ
Can't repay my loan
Student loan: Non-federal student loan
Can't get flexible payment options
Complaint: Since my repayment period has began XX/XX/2015, Sallie Mae has been uncooperative after multiple attempts to negotiate repayment amounts. I have explained on multiple occasions the difficulties I have been having, such as my father 's passing, followed by XXXX with no health insurance. They refused to acknowledge my financial hardship and did not reach out to me until after my credit score dropped tremendously ( over XXXX points ) as well as my cosigners ' scores. I had proof of both my father 's passing and my ectopic and was willing to submit it for them to work with me. Still they said the best they could do was {$1600.00} a MONTH! Initially they insisted that this was the absolute lowest payment they could accept with no exceptions and my credit was already shot before I could ever even try to refinance. When I walked into the numerous banks and told them I was looking to consolidate with Sallie Mae Loans, they said " we do n't mess with them. '' Only XXXX gave us a chance, and even then it was too late, our credit had been damaged. {$1600.00} was " the lowest they could go '' because " they do n't have to follow the federal rules and regulations because they are a private lender. '' Months after I refused to pay their amount they finally decided they could accept {$1000.00} a month but ONLY if I supplied a financial statement from myself and each of my cosigners. I explained that it was still was not affordable for me and they assured me once again that this is the absolute lowest that they could offer me. A few months later they contacted me again with a " Limited Time Offer '' in which they could somehow accept {$600.00} a month WITH financial statements. However at this point I had already been looking into bankruptcy options. ( Unbelievable that my personal debt is less then {$5000.00}, but I thought I had no other options, so I was willing to have a bankruptcy on my record just so they could stop destroying my family and so they 'd legally have to work with me!! ) The only slightly helpful option that they made aware to me, was that whenever I put my loans into forbearance, they were somehow able to clear my previous overdue balance with a {$50.00} charge per loan which brought it out of deferment and stopped the calls for a month. Then we were right back at square one with no options, until THAT option came up again. After my loans being overdue for a while they made this offer again however they only gave me one month without notifying me that I would have to pay the {$50.00} charge for every month instead of putting the forbearance down for multiple months initially. We were unable to pay the {$50.00} x XXXX = {$150.00} payment again because we did n't know we would have to as we were n't filled in on all of the details again. As the calls continued, they got nastier and more frequent. Now I 'm being harassed at my place of employment even after I 've answered numerous phone calls to my personal line, and asked them repeatedly to not call my job and risk my personal business along with my career at risk or they 'll never get paid! I never listed my work number or gave right to call me on it. After bringing up filing for bankruptcy, they were a lot more eager to try to work out a deal, but at that point, after being XXXX years old, working hard on a XXXX Credit score, to watch it fall under XXXX for doing what I thought was the right thing by going to XXXX .... Who cares right? Beaten, Tired, And Fed Up. I Hope they get whats coming to them. For what it 's worth I 'm a very hard worker who does n't spend money on anything unless I need to. My debt before Sallie Mae/XXXX? Less than $ XXXX. Got ta love it!
I wish the multiple choice section below was able to select more then one bubble. These people are truly the devil.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2017-01-20
MN
Can't repay my loan
Student loan: Non-federal student loan
Can't decrease my monthly payments
Complaint: I took out a loan with Salliemae before they spilt with XXXX. I took out what was recommended for my studies and now I will be paying for it the rest of my life. Salliemae and XXXX began charging me ( without warning ) almost {$1000.00} per month for my loans. I had not found a job in my field yet and was already struggling to meet my other bills so on XXXX when my first payment was taken out all of my money was gone and then some. I called and tried to get help but they told me they could not lower payments and could n't work with me. So I was forced to go on deferment as my over 10 % interest rate continued tacking on money to my already sizable loan for a full year. Every month I would call and plead with them to help me get on an income based repayment plan but every time they refused and advised me that, because I was able to pay them {$100.00} every time I went on deferment, that they could n't help so I should just default. I had run out of deferments after a year and was billed once again for almost {$1000.00} ( which I could not afford ) and so I had to default on my loan. A day after my bill was supposed to be due I received a call from a Salliemae representative asking why I had not paid. When I explained the above their response was " Well I do n't know why we would advise you to default, we want to help you repay your loans '' and it was at this point that they finally let me get on an income based program with a lower interest rate.
However I find that I am not making a dent in what has now become almost {$100000.00} in debt due to my year of deferment and my default. The payments are still unreasonable and at this point Im basically paying off interest rather than the actual loan.
My school ( XXXX XXXX XXXX XXXX XXXX ) was no better at helping than Salliemae or XXXX. The school gave us no assistance with finding a job after graduation even though there were promises to send us offers or recommendations. It became abundantly clear that the school was in it to make money, not turn out media professionals that it claimed to have done. The curriculum was a joke during my second year and if it was n't for having a few teachers who did n't want to XXXX us over I would n't have learned anything or gained experience that I needed to find my first job ( on my own about 8 months after graduation mind you ).
Salliemae and XXXX have given false advise and no help when it was desperately needed that has effected my credit score, my ability to get loans in the future, and my general overall well being. XXXX did not provide the education promised which led me to have to fight to get an entry level job in my desired field.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2017-01-20
Myrtle Beach, SC
Can't repay my loan
Student loan: Non-federal student loan
Can't decrease my monthly payments
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2017-01-20
White Hall, PA
Dealing with my lender or servicer
Student loan: Non-federal student loan
Trouble with how payments are handled
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2017-01-20
Clarkesville, GA
Dealing with my lender or servicer
Student loan: Federal student loan servicing
Trouble with how payments are handled
Complaint: I took out loans through Sallie Mae and they were to be deferred payment so I did not have to pay on them while I was in school. Responsibly, I started making small payments each month to get a little ahead and then payments started being required of me and they were more expensive. When I asked about it they told me it was just how the loan was set up. Even though it says the repayment date is XX/XX/2019, I am still having to pay on it. This is not how my loan was to start with and I should not be required to pay back money now.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2017-01-20
Greensboro, NC
Dealing with my lender or servicer
Student loan: Non-federal student loan
Received bad information about my loan
Complaint: Struggling to pay loans due to current income when I got behind I received numerous letters from Sallie Mae stating to call to find out repayment options. Well, when I called I got very rude answers and was told there were no options for me besides to pay my loan. When I mentioned, I was told there were other options they refused. Consignor even called and was given same cold shoulder.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2017-01-20
WV
Can't repay my loan
Student loan: Non-federal student loan
Can't get flexible payment options
Complaint: I took out private loans through sallie for my XXXX degree. Upon graduating, I was told my monthly loan payment would be over {$1100.00} & that there was no other option for me to repay unless I went by their repayment plan. That amount is not even a logical amount. The only other option they gave me was to go back to school & defer my loans, allowing them to collect even more astronomical interest. This lead me to have to consolidate my loans through another company just to get a lower payment because there 's no way I could afford to pay them over {$1100.00} a month with interest rates about 13 %. This company does not work with you or help you to repay loans at all. It 's impossible to get out of debt with them. Not to mention, having loans out through this coming any has destroyed my credit score.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2017-01-20
Perkasie, PA
Can't repay my loan
Student loan: Non-federal student loan
Can't decrease my monthly payments
Company Response: Company believes complaint is the result of an isolated error Closed with explanation
2017-01-19
Hillsdale, NJ
Can't repay my loan
Student loan: Non-federal student loan
Can't decrease my monthly payments
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2017-01-19
Abilene, TX
Can't repay my loan
Student loan: Non-federal student loan
Can't decrease my monthly payments
Company Response: Company disputes the facts presented in the complaint Closed with explanation