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 6
2019-05-23
IL
Struggling to repay your loan
Student loan: Private student loan
Can't get other flexible options for repaying your loan
Complaint: I have called Sallie Mae on multiple accounts expressing my financial distress, stating the required monthly payment on the " only plan offered '' is nearly 70 % of what I make monthly.
I was told on multiple occasions that only when my loan went into deferment ( and it did, from not paying for 5 days past ) were they permitted to discuss " alternative payment options. '' After completing all the information needed to access such a plan, I was informed the interest I had was already the best they offered, and that enrolling in this new plan would actually increase my monthly payments.
I then implored them to leave me on the default plan which is still and for 6+ months now has been destroying my credit and savings.
On top of everything, the representative had the audacity to suggest I seek alternative employment such as working in a store or coffee shop, instead of continue working freelance in my field and acquiring more work clients and experience as I go. AN incredibly inappropriate, unprofessional assumption to extrapolate on the idea that I am simply not working hard enough ...
Overall, Sallie Mae 's whole process was and consistently remains incredibly inhumane in their inability to budge from their signature payment plan that holds no regards for annual salary, or even those living below or around the poverty line.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-05-22
Pinellas Park, FL
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
2019-05-21
Ashland, KS
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
2019-05-21
New Britain, CT
Struggling to repay your loan
Student loan: Private student loan
Can't get other flexible options for repaying your loan
Complaint: I have 5 loans and together it has left me with $ XXXX in debt. I would like to pay for the true value of my degree and not the inflated rate set by the universities. I would like for my loan amount to be reduced or to apply for loan forgiveness / bankruptcy. Private loan companies shouldnt charge me more than I make a year and that has to be accounted for. I need a way to consolidate my debt. 1 of my loans was also sold without my knowledge and XXXX XXXX hasnt been able to produce proof of the sale or put me in contact with the company it was sold too. XXXX XXXX essentially diversified my loan to a different company to make money off of it. Many of my loans also do not add up. I graduated college XX/XX/XXXX. My payments are suppose to begin 6 months after that date. My payments began XX/XX/XXXX. It is currently XX/XX/XXXX and my loan had jumped {$8000.00} in 2 months? I feel like XXXX XXXX is not tracking properly.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-05-18
Marina Del Rey, CA
False statements or representation
Debt collection: Private student loan debt
Attempted to collect wrong amount
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-05-16
Senoia, GA
Managing an account
Checking or savings account: Checking account
Deposits and withdrawals
Company Response: Company can't verify or dispute the facts in the complaint Closed with explanation
2019-05-15
Long Beach, CA
Dealing with your lender or servicer
Student loan: Private student loan
Problem with customer service
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with monetary relief
2019-05-14
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
2019-05-14
Federal Way, WA
Credit monitoring or identity theft protection services
Student loan: Private student loan
Billing dispute for services
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-05-14
Dealing with your lender or servicer
Student loan: Federal student loan servicing
Received bad information about your loan
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-05-11
Trenton, NJ
Problem with a credit reporting company's investigation into an existing problem
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Their investigation did not fix an error on your report
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-05-08
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
2019-05-08
CA
Dealing with your lender or servicer
Student loan: Private student loan
Received bad information about your loan
Complaint: applied for a XXXX loan, XXXX XXXX sent XXXX to the school, the school then returned XXXX ( half of the loan ) to the bank. XXXX XXXX denies receiving money, then later said they had it, now denies it again. school has not received the total XXXX ( only XXXX ). This has been over a year i have been struggling with it. I am paying interest on a XXXX loan when i have only received XXXX and the bank is uncooperative. i never receive call backs when promised, and each time i call i get a different answer for where the money went. I think it is ridiculous that i bank has LOST my XXXX XXXX DOLLARS!!!!!!!!!!!
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-05-08
Federal Way, WA
Dealing with your lender or servicer
Student loan: Private student loan
Don't agree with the fees charged
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-05-06
Doral, FL
Incorrect information on your report
Student loan: Private student loan
Account status incorrect
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-05-03
Henrico, VA
Closing an account
Checking or savings account: Checking account
Funds not received from closed account
Company Response: Company believes complaint represents an opportunity for improvement to better serve consumers Closed with explanation
2019-05-02
Chicago, IL
Problem with a credit reporting company's investigation into an existing problem
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Their investigation did not fix an error on your report
Complaint: Sallie Mae continues to misapply payments made in each month to my loans with the company. The most recent representative called me to say I did not make a payment in XXXX of XXXX, when I made a payment this month. Also, the representative before her told me I didnt make a payment in XXXX of XXXX, when I made a payment to Sallie Mae in that month as well. Moreover, a Sallie MaXXXX representative called in XXXX of XXXX to place me into a forbearance program as long as I initiate automatic payments out of my account. I agreed and preceded the contractual agreement over the phone. After the forbearance period, there was not a payment automatically pulled from the account. I had to call Sallie Mae and inquire about the missed auto-debit when I was informed that I never qualified for the program to begin with and therefore I was liable for the forbearance period. I spoke to a manager in the call center who promised a call back, but never called back. This has resulted in late payment reporting on my credit report and interest charges due to payments being considered late.
Company Response: Company believes complaint is the result of an isolated error Closed with non-monetary relief
2019-05-02
NJ
Struggling to repay your loan
Student loan: Private student loan
Can't get other flexible options for repaying your loan
Complaint: Good afternoon, I am a cosigner on a loan for my little brother through the company Sallie Mae. When my brother first applied for a loan through this company he chose the wrong loan option. Instead of choosing to deffer the loan, or to pay a small interest fee of {$25.00}, he chose the in school interest repayment option. Not paying attention, I signed off on the loan because he told me that he had everything taken care of. So in the month of XXXX of XXXX I received a notice telling me that I had to pay Sallie Mae {$100.00} because of the plan we chose. I was confused and called to ask them if there was any other way to change the loan to a deffer loan and the representative on the other end told me there is nothing they can do and I have to pay this amount or else my loan will go into collections. So I explained to them that it will be hard for me to pay that amount of money because I am a dual major in college that works at target, and I have to pay for my school out of pocket ( which is about {$1500.00} a semester ), my rent ( because I can not afford to live on campus ), my car note, my car insurance, my utilities, school supplies ( like books and any other nursing lab expenses ), my phone bill ( which includes myself, my father, and my XXXX younger brothers ), and my brother is a XXXX in college with no job. However, because I was told there was no other option and I had to do this I agreed and told them that I will pay the {$100.00} a month. In XXXX of XXXX, I received another notice telling me that because the second half of the loan was sent out I had to pay {$200.00} a month now instead of the {$100.00}. I called the company multiple times and talked to multiple managers to see if there was anything I could to deffer the loan so that we would not have to pay while he was in school. All of the managers and representatives once again told me there is nothing they can do and that I had to make the payments. On XX/XX/XXXX, I called Sallie Mae because they called to tell me that my payment for XXXX was past due. I was aware it was because I was not able to afford the monthly payments. So when I talked to another representative he informed me that I could ask the school to send the money back to Sallie Mae and from there Sallie Mae could let me apply for a new loan so that we would not have to pay a monthly payment. This was the first time anyone has ever told me about this option because if I had known about it before the loan was ever sent out, back in XXXX, I would have applied for a new loan then. Unfortunately, now it is virtually impossible for me to get that money back from the school because it is finals week, the last week of the semester. So basically, I was forced to pay a monthly payment because I was told they could not do anything to help me and now I am being forced to pay {$200.00} a month until my brother gets out of school. Sallie Mae has lied to me for months and they now do not want to do anything about it!
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-05-01
Tucson, AZ
Incorrect information on your report
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Account information incorrect
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-04-29
Lk Buena Vis, FL
Struggling to repay your loan
Student loan: Private student loan
Problem lowering your monthly payments
Complaint: I submitted a complaint not that long ago because Ive been having issues with making payments on my loans via Sallie Mae. Whomever I talked to on the phone last said just to pay whatever amount I could and I would receive a phone call from the company. My mother who is my co-signer received a letter saying I was last due and I only received an email stating the same thing. They will not work with me and this needs to stop.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with monetary relief
2019-04-25
Sierra Madre, CA
Getting a loan
Student loan: Private student loan
Denied loan
Complaint: Hi. I hope all is well. I am writing this letter because I need your assistance in my situation with XXXX XXXX. I have applied for a student loan ( Smart Option ) and have been denied despite of having immaculate credit and high SCORE. XXXX XXXX apparently requests a cosigner but the point is that that I have always been taking care of my own issues and never relied on anyone. Age wise I am young but I am very independent, responsible and as I said I have always taken care of my issues myself and have always been successful. I am very persuasive, persistent and conclude everything that I start. I never leave anything halfway through. I dont understand some policies of XXXX XXXX. Student Loan is for people who are young and want to build a currier for themselves, If somebody has enough income to support a medium or big size loan ( As XXXX XXXX Requests ) why he or she should go to school and create a debt??!!!
I am very anxious to obtain a loan and create a good future for myself and of course with your assistance I will achieve that. Federal Equal Credit Opportunity Act is very clear about loan issues and I believe XXXX XXXX is in clear violation of the said act when they request cosigner for no particular reason. Please assist me to resolve this issue of loan because I am very anxious to start my classes. I am already late due to this tug of war with XXXX XXXX.
XXXX XXXX already placed TWO credit inquiries within my credit reports and these inquiries created an impossible situation with other lenders. Other lenders do not see the inquiries very favorable and most probably will deny my demand and if they place their own inquiries in my reports there will be further damage to my credit scores and as a result I will be damaged directly.
I look forward to a positive outcome and if you need further information please do not hesitate to contact me through this email.
Best Regards,
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-04-24
Salton City, CA
Struggling to repay your loan
Student loan: Private student loan
Can't get other flexible options for repaying your loan
Complaint: In XX/XX/XXXX I was awarded two private loans through XXXX XXXX, with the agreement to pay {$50.00} a month for both loans. I was accepted to XXXX XXXX University for a XXXX XXXX program. Before my first semester was over my boyfriend XXXX XXXX. He XXXX himself in the garage and I found him. Due to my mental state my sister handled me withdrawing from the program. Now it is XX/XX/XXXX I am back in school working towards a degree in XXXX to help people effected by XXXX. I currently owe XXXX XXXX around XXXX for a loan I never used. I have tried asking them multiple times for more information or resources to help my situation, with the result being futile. I do not want sympathy just simple fairness, as I do not think I should owe XXXX and growing on a loan I never used.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-04-22
Main Office, VA
Closing an account
Checking or savings account: Savings account
Funds not received from closed account
Complaint: Savings account on XX/XX/XXXX, was told it would take a long as 30 days for balance refund. Called Bank on XX/XX/XXXX to advise did not get balance refund, was told that check was mailed out on XX/XX/XXXX, but the Bank would need to investigate.
XX/XX/XXXX Bank called to say they would stop payment on the lost refund check and reissue check, will take another 30 days, I asked for the check the be expedited, they refused. This is really poor service to wait 60+ days for a balance ( {$31.00} ) to be refunded.
Company Response: Company believes complaint represents an opportunity for improvement to better serve consumers Closed with explanation
2019-04-22
Fort Worth, TX
Threatened to contact someone or share information improperly
Debt collection: Private student loan debt
Contacted your employer
Complaint: XXXX XXXX has continually attempted to contact me at a phone number that is no longer my employer on XX/XX/2019 and XX/XX/2019. I am sure that there are more instances that I am not aware of. They have been told by multiple people I am no longer employed there. They have now also started to contact my current job. I have told them that I am not able to receive calls at work. I have sent 3 letters ( XXXX XX/XX/2019, XX/XX/2019, and XX/XX/2019 ). The original letter on XX/XX/2019 stated to not contact any workplace phone numbers for me and they have continued to do this.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-04-19
Arlington, VA
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