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 5
2019-07-01
Sandy Hook, CT
Dealing with your lender or servicer
Student loan: Private student loan
Need information about your loan balance or loan terms
Complaint: I have been contacting Sallie Mae for several weeks to speak with someone about a loan modification and learn all options for loan repayment for my monthly loan payments. Currently, my monthly payment is {$1400.00}, which is significantly more than I earn in a month. I have tried multiple times to call and gave been met with service representatives who can not answer my questions, or am put on hold and transferred to a different department and then hung up on. To date, I have been told that my options are to enroll in a graduated repayment program, put my loans into forbearance, or to speak with someone about a loan modification. After looking into it, I discovered that the graduated repayment program would not only add an additional {$3500.00} charge to my current loan balance, but also tremendously increase my monthly loan payment after one year- therefore, it was not a viable option. As I had already paid {$150.00} to put my loans into forbearance, I asked to speak with someone about a loan modification. I was then told I needed to wait for my loans to become past due for someone from the loan modification department to speak with me. This situation has already detrimentally affected my ability to try and get a refinancing loan with other companies and I can not afford to wait and have my credit score negatively impacted by Sallie Mae again. Sallie Mae has been giving me the run around for weeks and it has prevented me from being able to properly handle this situation. I am being denied access to critical information, and being mislead by representatives who continually tell me different information.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-06-26
IN
Dealing with your lender or servicer
Student loan: Private student loan
Keep getting calls about your loan
Complaint: I am getting calls a minimum of three times a day, usually every hour starting at XXXX XXXX EST.
Example : XX/XX/19- XXXX XXXX, XXXX XXXX, XXXX XXXX, XXXX XXXX, XXXX, XXXX XXXX, XXXX XXXX XX/XX/19- XXXX XXXX, XXXX XXXX, XXXX XXXX Not only do they call multiple times daily, they will call from an anonymous number and leave ( sometimes ) multiple prerecorded, nonspecific voicemails.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-06-25
Burlingame, CA
Dealing with your lender or servicer
Student loan: Private student loan
Problem with customer service
Complaint: The company suddenly moved my existing loan account to a new account without informing me. Due to this I was not able to pay some of the due amount earlier because I was not able to access the account for some period and had to pay extra interest for the month of XX/XX/2019.
After several weeks of trying to reach them I was able to get access only at the end of XXXX. I was told to create a new account and that my loans were migrated to this account. This was done with zero notifications to me. Even when I finally gained access to this new account, I am missing all loan documentation which was there in the earlier account..
I have attached screenshots of multiple days when nothing showed up on my loan account, screenshot of a page from earlier in the year ( when loan details come up ) and loan document, which I had saved earlier in the year to establish my authenticity.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with monetary relief
2019-06-24
Brooklyn, NY
Struggling to repay your loan
Student loan: Private student loan
Can't get other flexible options for repaying your loan
Complaint: So, fresh out of college working as a XXXX XXXX in New york barely making enough money to keep up with my {$1000.00} rent and federal and private loans and other expenses. It has been hard for me to save money. Sometime I end up only have {$20.00} left after I pay all my bills and loans. Sallie mae doesnt offer anything else lower than the $ XXXX payments and the interest of % 14!! Doesnt help either. Its basically like I pay my loan the interest just keeps adding up.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-06-22
Carmel, NY
Dealing with your lender or servicer
Student loan: Private student loan
Received bad information about your loan
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-06-22
Niverville, 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
2019-06-18
Phila, PA
Incorrect information on your report
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Account status incorrect
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-06-18
Seymour, 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
2019-06-18
Azalea Park, FL
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
2019-06-18
Warrenton, VA
Getting a loan
Student loan: Private student loan
Problem with the interest rate
Complaint: On XX/XX/XXXX, my daughter applied for a fixed rate student loan from XXXX XXXX. The Loan, " Smart Option Student Loan, '' was for the amount of {$12000.00} with an interest rate of 9.5 %. The total finance charge for this loan was {$7000.00}. On XX/XX/XXXX, my daughter and I ( the cosigner ) received a letter from XXXX XXXX a letter stipulating an error. In this letter, XXXX XXXX states that the 'Total of Payment ' based on the interest rate will be {$45000.00}. The letter provide a Final Disclosure, in which it describes the loan to be a variable rate pegged to XXXX, with a note stating that the loan will never exceed 25 %. Upon contacting XXXX XXXX to obtain clarification, XXXX XXXX denies sending such letter and the new 'Final Disclosure. ' Instead, XXXX XXXX sends loans documents never previously sent or seen by us at the time of the loan application. The loan application was processed online, including signatures. The process did not offer a viable way of obtain physical copies of the online transaction. In fact, the amount of {$45000.00} was never presented during the application process. Had this amount been show or presented during the loan application, my dauther and I would have not proceeded with the signing of the loan. My daughter and I have contacted XXXX XXXX several times to resolve this matter at no avail.
Company Response: Company believes complaint represents an opportunity for improvement to better serve consumers Closed with explanation
2019-06-17
Shoals, GA
Dealing with your lender or servicer
Student loan: Private student loan
Trouble with how payments are being handled
Complaint: XX/XX/XXXX, XX/XX/XXXX Sallie Mae are calling people outside of who I listed on my loan, giving out personal information regarding my loan
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-06-17
Chicago, IL
Dealing with your lender or servicer
Student loan: Private student loan
Don't agree with the fees charged
Complaint: My loan with XXXX XXXX was disbursed XX/XX/XXXX. My payments do not start until XX/XX/XXXX. Since the disbursement I have received monthly " billing '' emails, although these emails always ( correctly ) stated that a payment wasn't actually due and any payments I make would be optional. Then suddenly in XX/XX/XXXX - two years after the loan disbursement - XXXX XXXX started showing amounts that they stated were due ( even though my repayment start date, again, isn't for another three years ). On XX/XX/XXXX they charged me a late fee, even though - again - my repayment start date isn't until XX/XX/XXXX. Because of this late fee for absolutely no reason, my credit score dropped six points ; so now I have to go through the hassle of filing an appeal with the credit reporting agencies because XXXX XXXX is trying to collect on payments that aren't even due yet. I contacted the rep at XXXX XXXX who sent me the payment due notice to ask for an explanation of what they were doing, and after not getting a response for over two weeks I then contacted the VP of customer service at XXXX XXXX, XXXX XXXX, and he also chose not to respond ( it's been ten days and counting ).
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with monetary relief
2019-06-14
Caldwell, NJ
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 monetary relief
2019-06-14
TX
Dealing with your lender or servicer
Student loan: Private student loan
Received bad information about your loan
Complaint: XX/XX/2019 - Contacted company to see what originally was taken out for my loans and if I could get verification due to the numbers not looking accurate. Customer service rep seemed confused and didn't assist with me pulling up my account.
XX/XX/2019 - Contacted company inquiring about different payment options available for my loans because the amount they have suggested is not realistic. Company did not assist and just continued to read off of script.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-06-10
North Kortright, NY
Communication tactics
Debt collection: Private student loan debt
Frequent or repeated calls
Company Response: Company believes complaint is the result of an isolated error Closed with explanation
2019-06-06
Arlington, VA
Threatened to contact someone or share information improperly
Debt collection: Private student loan debt
Contacted your employer
Complaint: XXXX XXXX continues to harass myself, my mother and now are attempting to contact my friends to discuss loan repayment options. My loan is in the process of being consolidated and therefore I do not even have a loan through Sallie Mae any longer. A man named XXXX XXXX continues to call my mother at her place of employment as well as my best friend. He is violently rude and discusses confidential loan information each time he calls which is multiple times a day.
Sallie Mae itself also calls myself and mother a handful of times a day leaving automated messages.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-06-01
Reno, NV
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
2019-06-01
Main Office, VA
Struggling to repay your loan
Student loan: Private student loan
Can't temporarily delay making payments
Complaint: I have a private studet loan with Sallie Mae which I have always made on-time payments. Unfortunately, in XX/XX/2018 I had to leave my job and relocated to Virginia to take care of my elderly mother. I spoke with a Sallie Mae representative in XXXX in regards to me being unable to make my monthly payments at this time as I was unemployed and re-enrolling into school. The Sallie Mae representative told me I could only put my loans in deferment by paying {$150.00}, which I dont have, and that the payment would NOT be applied to the principle or interest of my loans. The representative also told me to go online and mail or email the paperwork stating I was back in school to defer my loan repayment. At the end of XXXX/early XXXX I printed the form off from their website emailed AND mailed it to them. It is now XXXX and they have yet to put my loans into deferment.Sallie Mae calls me mutiple times everyday, from sun up to sun down, requesting payment even after Ive asked them to stop calling. Ive asked that all contact be written either via email or mail, but have not received anything from them. Ive done what I was supposed to do as far as alerting Sallie Mae of my unemployment, school enrollment, and completing their required documentation. I am not sure what else I can do at this point. Please help.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-05-31
Bridgeport, CT
Incorrect information on your report
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Account status incorrect
Company Response: Company believes complaint caused principally by actions of third party outside the control or direction of the company Closed with non-monetary relief
2019-05-30
Hartsville, PA
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
2019-05-28
Jerome, IL
Communication tactics
Debt collection: Credit card debt
Frequent or repeated calls
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-05-27
Buck, 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 monetary relief
2019-05-26
MO
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
2019-05-24
Cheshire, OR
Struggling to repay your loan
Student loan: Private student loan
Can't get other flexible options for repaying your loan
Complaint: XX/XX/XXXX- My first phone call with them. I asked about lowering payments and they claimed the lowest they could go was {$980.00} a month so I asked for forbearance.
XX/XX/XXXX- My second phone call with them. I again asked about lowering payments and they claimed they could not go any lower so I again asked for forbearance.
XX/XX/XXXX- My third phone call with them. I asked again about lower monthly payments and the plan they gave we still could not afford so I again asked for forbearance.
XX/XX/XXXX- They talked to my mom/ cosigner and myself and we gave them financial statements. In order for us to receive a lower payment plan.
XX/XX/XXXX- They called my father/ cosigner looking for me even though I spoke to them the day before. I had not received any missed calls but my phone automatically blocked unknown numbers at the time so I called them back as soon as my dad told me. We tried to work out a lower payment plan. They took financial statements from me three separate times by three separate individuals. They took financial statements from my dad who is disabled twice and from my mother twice. They intimidated my dad and were incredibly rude to him to the point that he cried. He has XXXX XXXX and sometimes it takes him longer to process information and respond. They took advantage of this and bullied him. Then stated we didn't qualify for the reduced payment option because we couldn't prove that we could pay the reduce payment of {$500.00} either. They gave us three days to come up with something else that would make them feel " comfortable '' giving us the reduced payment plan. Three days was not enough time. We looked into other options which is why I started writing letters via certified mail so I could have communication with them in writing.
XX/XX/XXXX- I sent out my first letter via certified mail to them. Asking to cease phone communication and only communicate via letter from now on. I specifically asked them to not contact my co-signers, my co-signers place of work, or my place of work.
XX/XX/XXXX- I sent out my second letter via certified mail asking for proof of debt validity.
XX/XX/XXXX- My parents received a letter addressed to me at their house even though my return address was directly on the envelope of every letter I sent them. It was simply a change of address update not a response to either of my letters thus far.
XX/XX/XXXX- I sent out my third letter via certified mail stating that I am willing to work with them and was waiting to hear back from them that they are willing to work with me. And to contact me via letter and only me about these loans. I specifically asked them not to contact relatives, siblings, and places of work of myself or my co-signers.
XX/XX/XXXX- They called my uncle who has nothing to do with my loans. I am not even sure how they got his number.
XX/XX/XXXX- Three letters to my mom XX/XX/XXXX- A letter to my mom XX/XX/XXXX- 5 letters to me, none a response to what I had written just general letters sent out to loans in threat of delinquency.
XX/XX/XXXX - They sent a letter to me that just said " thank you for your inquiry. We are committed to providing you with information and assistance you need. To address your concerns more efficiently, we ask that you call us at ___ '' I did not receive the letter until the XXXX.
XX/XX/XXXX- I sent out my fourth letter via certified mail stating again that I was waiting to hear back them and offered a monthly payment which is something I can actually pay and still be able to have rent and food.
XX/XX/XXXX- My uncle received a phone call looking for me. Although I had been sending letters since XXXX and explicitly asked multiple times to only be contacted via letter they continued to harass people who had absolutely nothing to do with my loans. I called them back and spoke to my account manager XXXX. We went over my finances and I told her what I could pay each month. She was very condescending and reminded me of the amount of my total loan and I reminded her that they gave a loan to an XXXX year old with no financial history with no guarantee I would be employed when I graduated. She repeatedly stated " you asked for money and we gave it to you. '' Which is exactly my point. We had to conference in my mom/co-signer. The " lowered '' payment plan they offered was {$670.00} a month something we still could not do and we tried to work with them to meet somewhere where we were both satisfied but neither XXXX nor her supervisor XXXX would budge. I am trying to pay my loans but I can not make money appear when I do not have it. I reminded them multiple times that I had been writing them letters and had only received one response to my address and they kept saying they could not send letters and could only talk on the phone but I know that is not true. I am willing to work with them but every time they talk on the phone they talk in circles and every time you say anything about lowering payments they transfer you to another person who is more rude than the last. If they truly wanted to work with people they would have other solutions.When I asked them why they called my dead grandfather, uncle, parent 's place of work, and ex co-workers they had no response. When I tried to ask them what they would be willing to do to work with me XXXX stated " I am not going to negotiate with you. ' They said my offer of {$100.00} a month was too low. So I asked what about " {$250.00} '' and they again XXXX stated he could not work with me. I reminded XXXX that if they want me to actually be able to make payments they needed to be willing to work with me. Neither he nor the company he works for were willing to work with me to resolve this matter. XXXX and XXXX continued to claim that this was the best they could do although in the forms I originally signed for the loans it mentions something called a Payment Holiday. Which would at least give me time to gather myself and see what else I could do to work with them.
In the time between my first later and today my pare n't have been called almost daily. My significant other has received calls even though he is not on the loans and I never gave them his contact information or permission to speak to him about my account. My uncles have received calls. My grandma has received calls looking for my dead grandfather. My mom 's ex co-workers have received calls. My dad 's boss received calls. I have not been ignoring them, I have been writing them for months and waiting for written reply from them. Instead they waited to respond until the situation was very dire and harassed my family in an effort to intimidate and embarrass me into making agreements that I could not uphold.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-05-24
Oxford, GA
Dealing with your lender or servicer
Student loan: Private student loan
Received bad information about your loan
Complaint: I have four seperate loans with Sallie Mae all with interest rates from 8.75 % to 11.75 %. When I took out the first 2 loans I was under the impression the interest rate was lower. Secondly the last 2 loans have different co-signers in which they told me could be release within 6 months of on time payments. After repaying on the loans on time for the past 2+ years I called to have my co-signers released in which I am now told theres an application process and that my co-signers can not be release as there are a group of rules that must be met first, one being the borrower can not be on a reduced payment plan. When I took out the loans these additional co-signer release stipulations where NEVER explained. When I called to inquire about this I was told I shouldve known because its on their website however it says they can change the co-signer release stipulations at anytime. The consumer advocate XXXX claims to have listened to the recording in which these stipulations where described to me but will no allow me to heard the recording. I previously filed a complain about how Sallie Mae told me the only way to have a lower monthly payment ( previously $ XXXX/mo ) was to go into collections which I did in good faith that they were giving me the best advice. I was young and didnt really know better. They call themselves fixing the issue after my complain with CFBP by crediting the interest charged during that collection period however I do not find this a satisfying solution. I also do not believe they credited my account with all the fees and interest applied to my accounts during the advised collection period. Taking a closer look at my billing Ive noticed they charge me interest twice a month for each loan. Over the last 2+ years Ive paid anywhere from $ 17k-20k and my overall balance has only decreased by approximated $ 3k. When I asked about this XXXX, their consumer advocate, told me that they apply my payments to the interest accumulated while I was not making full payments and still in school. However, upon my calculations I accumulated less last $ 10k in interest so that should be well paid for by now. Ive called asking for original loan documents and now payment activity which takes 3weeks to receive which to me is unacceptable and unrealistic and makes me believe they are altering documentation. The loans all have astronomical balances higher than what was originally borrowed. Ive called to ask about lowering interest rates in which XXXX told me we dont do that here. Ive tried to refinance but am unable to because of the previous collection in my report and my high credit card balance in which I had to live off of while paying this high monthly bill. Unfortunately this is a universal issue in which many borrowers are facing and are not recieving any help or answers. Many similar complaints found online which leads me to believe Sallie Mae is practicing in deceptive repayment practices, consumer fraud, & subprime lending.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation