SLM CORPORATION

2019-08-13

MO

Struggling to repay your loan

Student loan: Private student loan

Problem lowering your monthly payments
Complaint: I am co-signer ( mother ) of loans that was received over the course of my daughter going to school. First off, I don't even know what the name of this company is after reading numerous complaints against them. Is it Sallie Mae or is it XXXX? They have told me numerous times that they are Sallie Mae and do not know who XXXX is? We have been trying to talk to Sallie Mae/XXXX for years now and can not get anywhere. My daughters original loans were in the @ amount of {$10000.00}, but now that has doubled because of interest. That is astronomical amount for interest! How can they do this to these young adults trying to make it in this world. I made {$25.00} dollar payments for months and at one point I cancelled but they still was taking {$25.00} taken out of my account without my authorization. I wanted my daughter ( borrower ) to start taking responsibility and make payments herself on this loan. They would not work with her on making an affordable payments, kept calling me first or her grandmother ( who lives in assisted living, battling XXXX, and is a widow ). Months of harrassment is an understatement, and when you try and talk to them, you are told something different everytime you talk to somebody. You are on the phone for hours for nothing. One week ago, I thought we finally had come to an agreement for an affordable payment for my daughter to make ( after years of getting no where, but interest still being added ). My daughter was to call back, to set the program up to make regular payments every month. When she called, she was asked how she could make payment every month ( which was worked out from the call a week ago ). She told them that she would re-budget. The person from Sallie Mae told her, that was not going to help making the payment and that they need concrete details and if they do not get them, the program wouldn't be approved. What????? She was approved for this one week ago, now its changed?????? My daughter has a new baby, working full time, trying to make it in this world. How do you call yourself a trusted student loan company???!!???? You are not helping students, you are just stealing money from these young adults and their parents. Trusted loan company is a joke of a statement. More like Fraudulent loan company!! This company should not be in business! Something needs to done with their manipulative and fraudulent actions!!! Frustrated, Concerned parent
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2019-08-12

Hanceville, AL

Dealing with your lender or servicer

Student loan: Federal student loan servicing

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

Timely Response

2019-08-08

Plymouth, FL

Struggling to repay your loan

Student loan: Private student loan

Problem lowering your monthly payments
Complaint: So Im a XXXX XXXX graduate of 2018 and I now and dealing with Sallie Mae, these people have no intentions of being able to make my payments easier for me. My monthly payment is twice as much as my rent and I am unable to make that payment, I work two part time jobs to make ends meet and I try to at least pay XXXX towards my loans. Since then Sallie Mae has ruined my credit score, I just want an payment based on my income to help me.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2019-08-05

WA

Dealing with your lender or servicer

Student loan: Private student loan

Need information about your loan balance or loan terms
Complaint: I am a co-signer on Student Loan. I would like to be released. The borrower/student has made payments faithfully for almost 4 years, never been late, has an excellent credit score, and an exemplary work record, continuously employed since graduating. Sallie Mae has twice denied the release, the first with a CODE 14 Insufficient Income for amount of credit requested. Second the same reason. We have no problem with that determination, but we do have a problem that Sallie Mae wont provide the metrics that allow us to set our goals to be released as a co-signer. We have the right to know the values that need to be aligned such that a cosigner ( s ) can be released. The credit score was very good ( XXXX ) and the payments have been prompt. To encourage us debtors to endeavor to be financially responsible and to seek the path of freedom from debt we need to be provided with information to set targets and goals. Personally, I think it is immoral that this information is not provided at the onset. I think it is sad the effort we have to undertake ( calls and letters ) to receive this rightful information, and further sad for those that do not have the time or the means to seek this information. Sallie Mae requires : I have demonstrated a satisfactory history of making the required 12 consecutive, on-time payments of principal and interest immediately before applying. I have no student loan ( s ) in default. I have not been reported as 90+ days delinquent in the past 24 months. I have no student loan ( s ) currently in a hardship forbearance or modified repayment program. My account is not delinquent immediately before applying. I must meet age of majority requirements in my state of residence ( be old enough to enter into a legally binding contract ). I must be a U.S. citizen or permanent resident at the time my request is processed. If my citizenship has changed since I applied for the loan ( s ) in question, I will provide proof of citizenship. By releasing my cosigner ( s ), Sallie Mae is not releasing me from my loan obligation ( s ). It would be so easy to also require the other information that Sallie Mae requires which the consumer has no idea how their decision is made. By example : Credit Score greater than xxx Debt to Income ratio less than Loan Balance is x percentage of Income Or other metrics they use to evaluate When you call Sallie Mae their representative can not give that information. I have asked to speak to a supervisor, and they have failed to call me back after several messages left on a voice mail. Very frustrating. In closing I think their evaluation criteria should be transparent and easily accessible prior to submitting the release request. Thank you
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2019-08-05

Lehightn Bor0, PA

Managing an account

Checking or savings account: CD (Certificate of Deposit)

Funds not handled or disbursed as instructed
Company Response: Company believes complaint represents an opportunity for improvement to better serve consumers Closed with explanation

Timely Response

2019-08-03

Nyc, NY

Struggling to repay your loan

Student loan: Private student loan

Problem lowering your monthly payments
Complaint: I graduated XX/XX/XXXX and in XXXX of XXXX my monthly payments started. The loans are : Sallie Mae Smart Option Student Loan # XXXX current balance $ XXXX@ 10.125 %, monthly payment is {$160.00}, Sallie Mae Smart Option Student Loan # XXXX current balance $ XXXX@ 10.625 %, monthly payment is {$160.00}, Sallie Mae Smart Option Student Loan # XXXX current balance $ XXXX@ 4.875 %, monthly payment is {$100.00}, Total current balance {$16000.00}, current monthly payment {$430.00}. I have federal loans thru XXXX XXXX ( # XXXXXX ), current balance is {$35000.00}, fixed rate of 5.375 %, monthly payment for two years was {$11.00} based on my income. I recently got a new job and they increased the payment to {$370.00} which I could not afford so they reduced it to {$220.00}. If I have financial issues I call them and they work with you. For all of XXXX, XXXX and XXXX we have been calling Sallie Mae to reduce increasing monthly payments. Sallie Mae only offered " Forbearance-can be authorized up to three months at a time, up to 12 months over the life of the loan. '' On their website under repayment options, payment difficulties page, they list " Delinquency and default '' " you can lose any interest-rate reduction programs for which you were eligible. '' Sallie Mae does not offer a reduction in the interest rate otherwise I could get a lower payment that I could manage! Last item they list is " If youre considering bankruptcy '' - " Its important to understand many student loans are not discharged through bankruptcy. '' " In cases where a loan is discharged, we remove the filing party from responsibility for the loan. The non-filing party remains responsible for the loan, no matter which type of bankruptcy is filed. '' So if I am forced to file bankruptcy - the student loans will still be due! And if I am granted bankruptcy, my parents who co-signed would still owe on the loans! Under repayment options they only list, " If youre experiencing financial difficulty, please call us at XXXX ( XXXX ), so we can discuss any options that may be available for your loan. '' There AREN'T any options to discuss as they offer you nothing to help you be able to make the monthly payments. Each month my payment would increase as they increase the interest rate. Most month 's I would make a phone call or use the internet online chat but they don't make the time to discuss " options that MAY be available for your loan. '' I have been delinquent several times, each time my parents have assisted to get me caught back up and they currently pay the full amount out of their checking account and bill me for half. I am XXXX years old and because of Sallie Mae I may be forced to file bankruptcy but ( as pointed out to me numerous times ) my parents as co-signers will still be responsible for the full amount due. If you read on Sallie Mae 's XXXX account, the numerous complaints from people that are in the same boat wishing they had never heard of Sallie Mae! The XXXX XXXX XXXX has many complaints filed against Sallie Mae but it seems to me that filing that complaint does nothing. Something needs to been done to help me and many, many others out there in the same situation! Filing bankruptcy, at our age, is not the answer but I can appreciate the anger, fear and desperation at trying to find a solution!
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2019-07-31

Problem with the payoff process at the end of the loan

Payday loan, title loan, or personal loan: Personal line of credit

Company Response: Company believes complaint is the result of an isolated error Closed with explanation

Timely Response

2019-07-29

Maiden Rock, WI

Struggling to repay your loan

Student loan: Private student loan

Problem lowering your monthly payments
Complaint: Around XX/XX/XXXX, I contacted Sallie Mae about having difficulty keeping up with payments on my student loans. At the time, I was living in my ( then boyfriends ' ) parents house rent free and substitute teaching. If I were to have worked every school day that year, I would have earned around {$23000.00} ( before taxes ) for the whole school year, I was on my parents ' health, car, etc. insurance and I didn't even own my own car. I was not aware of any income-based repayment options for my loans ( I looked and was on income-based repayment for all of my other student loans ). I had also called them around XX/XX/XXXX to see if there was any income-based repayment available and was told no. When I called Sallie Mae in XX/XX/XXXX, I told them I was having a hard time keeping up with student loan payments ( I believe the payments for just my Sallie Mae loans totaled over {$1200.00} a month at the time ). I had not had any late payments and I was told by the representative that there was nothing they could do to help reduce the payments and that I would have to go into default by missing a payment before they could look to see if there was anything they could do. They were clear that there was no guarantee that they could even help me if I went into default. After hearing this, I also questioned them why the interest rates on their variable rate loans had gone up so much ( nearly double ) while another private, variable rate student loan with another lender ( taken out at the same time ), had barely changed. They told me that they were keeping up with the market rates. When I did finally get my last loan out from them, the interest rate had hit 11 % while that other variable rate student loan with the other vendor remains around 5 %. My parents ended up bailing me out by lending me money to cover a couple of the Sallie Mae loans so I could afford the payments. Recently, I refinanced the remaining loans with my husband cosigning so I would no longer deal with Sallie Mae. In the end, I have a fixed rate loan with about the same monthly payments, and I will have it paid off in 1/2 the time Sallie Mae was showing.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2019-07-23

Kansas City, MO

Dealing with your lender or servicer

Student loan: Private student loan

Keep getting calls about your loan
Complaint: This company is harassing my family about my loans. They declined to work with me when I lost my job. I called in XXXX to try to make a plan to help pay for my loans while I was unemployed and they refused to help. Since they wouldn't work with me, I was unable to pay them for 3 months. Now they are harassing my sister with phone calls. I never gave them her phone number and I have no idea how they got it, and that is VERY disturbing.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2019-07-18

Bda Sostre, PR

Problem with a credit reporting company's investigation into an existing problem

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

Problem with personal statement of dispute
Complaint: Sallie Mae sale my Account ( Defaulted ) to Collection Company without time in Repayment option. Amount : {$8700.00} XXXX : XXXX in XXXX XX/XX/2019 Notification transfer, Defaulted sallie mae student Loan sale de account onXX/XX/2019. Notification : Sallie Mae no longer service your Student Loan. *Report XX/XX/XXXX XXXX ( Negative Impact ). Action : I write a Godwill Letter to Sallie Mae.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2019-07-16

Rocky Ridge, MD

Threatened to contact someone or share information improperly

Debt collection: Credit card debt

Talked to a third-party about your debt
Company Response: Company believes complaint is the result of an isolated error Closed with explanation

Timely Response

2019-07-15

Staten Island, NY

Struggling to repay your loan

Student loan: Private student loan

Problem lowering your monthly payments
Complaint: On XX/XX/2019, I reached out for assistance, to. No avail. Its very difficult working with them. It has dropped 100 point of my credit report. I reached out in XXXX, XXXX, and XXXX. I continue to make 30 payments every month. And its reporting late on my credit. I am the co- burrower, not the primary burrower. The primary person is not working. Thanks
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2019-07-12

Arvada, CO

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
Complaint: My credit score was checked by XXXX and I am not sure why because they are a credit company! It made my credit score XXXX down and I have no clue as to why it would be checked by then. As far as I know it is an error along with the others included in the picture. Sally Mae was contacted by someone that was fraudulent in collecting my info to take out a school loan. I have since put these companies on notice, reported to every I could, called the police and now this feels like a last resort, why is this error happening!!?! XXXX XXXX XX/XX/2019 XXXX inquiry never approved or permitted by me! XXXX XXXX bank /XX/XX/2019 hard inquiry is FRAUD!! Not submitted by me. I have called local officials and put my credit on alert!
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2019-07-12

NY

Struggling to repay your loan

Student loan: Private student loan

Can't temporarily delay making payments
Complaint: Ive had a previous claim against this company. They have been giving me false information in regards to extending my terms for a lower interest rate. I Initially expressed my interest in looking to lower my interes initially expressed my goal to lower my interest on one of my loans. My loan is earning 11 % interest currently. I was told if I extended my terms to ten years, Id have my interest reduced to 4 %. I was told this by three people. The customer advocate explained the refinancing structure the same way as the other representatives did until I asked further questions. I later learned from the customer advocate that the loan was actually for 12 years not 10 ends the first two years were the only years Id be receiving a reduce interest rate. After two years, my loan would go back to 11 %. That would of cause me to pay back over double what Im intentionally paying currently. This wasnt disclosed to me and I would of agreed to these terms if I didnt ask more questions. They break the discussion down into months instead of years to hide what youre really agreeing to. When I told them I was looking to refinance my student loans, they denied my forbearance even though I had only used nine out of the twelve months. They did so a day before reporting it on my credit score causing my credit score to go down, inorder to ensure I couldnt get a loan/better rates through another student loan provider. I wanted to start recording these phone calls because Salle Mae records them as well for their records. When I told management I was recording they said, we do not authorize the recording. Clearly, they do not want me having the records for legal reasons but feel free to record on their end. Its clear that they do not want me to refinance elsewhere so that was there intentions for denying my forbearance even though I had more than enough time and a plan in place. They waited until the very last moment, before it reported on my credit score to do so. The strategic moves are single-handedly done in order to ensure that you keep the loan within Sallie Mae. Thats why they didnt disclose the loan extension details and then tarnished my credit score.
Company Response: Company believes complaint is the result of an isolated error Closed with monetary relief

Timely Response

2019-07-11

Danbury, CT

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

2019-07-11

PA

Dealing with your lender or servicer

Student loan: Private student loan

Received bad information about your loan
Complaint: I am the co-signer of a Sallie Mae variable-rate loan. The loan rate is based on the monthly Libor rate. The Libor rate has gone down. Sallie Mae has not lowered my rate which is currently 4.25 %. On Sallie Mae 's website they are offering the same type of loan, with autopay enrollment ( which I am enrolled in ) for 3.98 %. I called Sallie Mae and was told the loan rate is based on when it was taken out. This does not seem correct since the loan rate is based on the monthly Libor rate which can go up or down monthly. I expected loan interest rate fluctuation when I signed for this loan. I expected it to go up and down- not just up. Sallie Mae is guilty of False Advertising to Students- casusing additional student debt.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2019-07-11

Sherman Oaks, CA

Attempts to collect debt not owed

Debt collection: I do not know

Debt was result of identity theft
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2019-07-09

Kimberlin Heights, TN

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

2019-07-09

MN

Dealing with your lender or servicer

Student loan: Private student loan

Keep getting calls about your loan
Complaint: There were a couple months I was $ XXXX {$100.00} late on my payment. A few days after the due date, they call both my co-signer and me up to 10 times a day between the hours of XXXX even if we have already talked to them and explained the issue that day. We have told them many times to stop calling multiple times and they dont.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2019-07-08

La Pine, OR

Dealing with your lender or servicer

Student loan: Federal student loan servicing

Don't agree with the fees charged
Complaint: I co-signed on my daughter 's loan of {$10000.00} with Sallie Mae. Between my daughter and I the payments we made add up to {$4100.00}. XX/XX/2019 statement says the current balance is {$11000.00}. Sallie Mae has been charging us late fees every month even when the payments were on time. I would call and dispute this with them. They would constantly pressure me into automatic payments. I refused because I did it once, but cancelled few months later because I had set payments on automatic then they started taking what they felt was right for them without my knowledge. There had been years of harassing phone calls and mailings saying I'm delinquent when I wasn't and to enroll in automatic payments. I called and spoke to many supervisors and XXXX. The calls, mailings and only a few late charges were dropped. To this day I still feel it's not right.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2019-07-05

Palmyra, MI

Problem with a credit reporting company's investigation into an existing problem

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

Difficulty submitting a dispute or getting information about a dispute over the phone
Complaint: On XX/XX/19 I received an email from Sallie Mae that a student loan was denied and it listed XXXX as the credit reporting agency. When I looked on my credit report I could see a new hard inquiry had been done by Sallie Mae on XX/XX/19. I did not apply for a loan with Sallie Mae on that date. It had me listed as a co-signer of the application and allowed me to pull up a copy of the application. It lists clearly that I had not signed nor received a request to sign to be a co-signer. After speaking with my daughter she said she started the application but didnt finish it because she didnt have my information. I contacted Sallie Mae to dispute the inquiry. Sallie Mae said I had to call the police and prosecute my daughter for fraud to have it removed. I tried explaining that no she had not committed fraud, the application was never signed by me and therefore was never completed and they should not have run an inquiry without authorization to do so. The person on the phone just kept over talking me and telling me I had to press fraud charges. How can they run an inquiry on my credit report when the copy of the application they sent me clearly states co-sign never signed. I didnt get an email asking me to sign or anything. It was an incomplete application and never should have been processed to begin with. The inquiry should be removed from XXXX based on that. XXXX will not do anything without a letter from Sallie Mae telling them to remove it from my credit report. Im not sure who made the mistake of processing an inquiry on my credit without permission, either Sallie Mae or XXXX but neither will help me to resolve the issue. My daughter didnt commit fraud the application was not completed and I never signed it so it shouldnt have ever been processed.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2019-07-05

VA

Communication tactics

Debt collection: Federal student loan debt

You told them to stop contacting you, but they keep trying
Complaint: Repeated harassing phone calls from Sallie Mae to pay a student loan debt that my daughter is paying ( barely, as it is a large monthly percentage of her salaried income ). It is true that she is close to default but she keeps paying in order to be not in default. I am a co-signer so I receive harassing calls all the time as well. She has tried to set up an alternative relief plan but we were denied because we somehow " make too much money '' despite both being barely able to afford this. The most egregious of the phone harassment offenses comes when they call my physical NEIGHBORS. They do a phone lookup of the homes that are on my street and call all those people asking to speak to me or my daughter. Now my neighbors all know my daughter and I are having trouble paying her student loan back. This is a violation of the Privacy Act and it is completely unacceptable. Sallie Mae must be prosecuted for this, cease all such activity, and stop harassing me. We will continue to pay our loan debt as best we can to avoid default.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2019-07-03

MD

Dealing with your lender or servicer

Student loan: Private student loan

Trouble with how payments are being handled
Complaint: On XX/XX/19 I called after realizing sallie mae had disabled my online acccount where I could see my billing statement, this was after about 200 harassing phone calls about how I was past due and needed to pay. I was pretty sure I was current and wanted to see my statement and how could I see my statement when they disabled my account? When calling to ask for statements to be mailed to me showing where the past due balance was coming from they representative refused to mail me statements and refused to give me access to my online account. It is now XX/XX/19 and I still have not received any statements in the mail nor have I received access to log in online but I did just receive a threatening phone call of basically pay or else. Isn't it illegal to refuse me my statements? I mean we all know sallie mae is bad but this is something else.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2019-07-03

Lancaster, OH

Attempts to collect debt not owed

Debt collection: Federal student loan debt

Debt was result of identity theft
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2019-07-02

Mount Dora, FL

Problem when making payments

Payday loan, title loan, or personal loan: Installment loan

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

Timely Response