Sallie Mae Bank review: Student loans 52

I am a cancer patient. I took out a career training loan with Sallie Mae because I wanted to finish and get my degree. The loan is for $4600.00 with a 9.25% interest rate. My dad cosigned due to me not having very good credit. My payments are $58.00 a month due the 25th of every month. I have made my payments on time. My mom and dad have even made payments for me due to my situation. They paid a few months in advance and still SM takes $20.00 of every payment and puts toward a late penalty. I owe $4500.00 as of today. How is that possible. These people are loan sharks and should not be allowed to prey on people who just want to better themselves. Something needs to be done. I receive 8 phone calls per day, 10 days prior to my payment coming due. When I questioned them I was told that they can contact you 8 times per day per phone number they have on file and that it is not considered harassment. My dad wants to come off the loan but was told that will never happen by someone with SM. I was told that if I made 24 consecutive payments on time with no late penalty applied then I could have him removed. Well that will never happen if they keep taking $20.00 from my payment every time and apply it as a late penalty.

I attended WW College Online for Graphic Design from Aug 2008 to Oct 2010 and am paying Sallie Mae in the amount of 59, 000 12, 000 in Private and 46, 000 in Fed for an Associates Degree that is Not accredited anywhere. I was also promised job placement- the school is in Colorado and I am in Ohio so that didn't work out! the financial burden is unbelievable for a piece of paper that is nothing more than burning material I also was scammed in a consolidation program because i am so drained to get this paid that I don't know what else to do lose my house?

never never ever PLS for your own sake get any kind of loan with Sallie Mae
think, , , , , before you do.. they have taken my live with 452.00 a month wage garner
with not even gving me a chance. I now will lose my house, car, job, and life .
these are the same people all of our tax dollars bailed out, very very ruthless bank.

Sallie Mae has the worst interactive website I have ever seen. Every time I log-in I have to reset my password. No, not due to early onset alzheimers, but due to the password simply not working. (A ploy to rack up late fees? Perhaps.)

The most recent example: I changed my password yesterday, wrote down both my ID and password, and today I cannot log on. Additionally, customer service calls are forwarded to Bangalor.

I'm switching back to paper statements. I hate to waste paper, but I simply cannot manage my loan repayments in the dark.

Do not listen to this student loans are never forgiven. ..theyll takeyour taxes

That is not how a loan works.
Banks make money off the interest, so if they let people pay extra and get out of their loan early, the bank makes less money off the loan.

I am a cosigner on my sons Sallie Mae private loans. I have been making regular payment and paying off when I have the money. In March I made 4 payments at once in hopes of getting ahead. Instead they applied the money to my loans very randomly. I called them 3 different times and each time I called I would go back into the web site and the payment application changed - some loans got interest only some got principal only. It's crazy! The last time I called I spoke with a supervisor who assured me she would call me back within 48 hours. She never did. I have now email them twice and still have heard nothing. I am continuing to make payments on time as if I never made extra payments in the first place. I have not clue and not recourse.

Pay us your money and just go away. That's what one of their senior managers told me when I tried to settle my account with them. What a bunch of low life’s. I had to wait until the end of the month to pay them because that's when I got paid. I called Sallie Mae's toll free number on Saturday [protected]) but the offices were closed. Call that Monday, and was told that I could not settle on our original agree terms because it was too late. Told them I tried to call but their offices were close (I have phone records to prove it). The manager (his name is Jeremy) said that’s not true and they were open. The number I should have called was [protected]. How the “h*#%” was I supposed to know. It’s best that you STAY AWAY for this company. Something wrong with their business plan (I think that’s why the dept. of educations is taking over all their loans. The government has figured out that their incompetent).

Sallie Mae lies and extorts people in a manner that makes the mafia look like amateurs! My son has a huge debt with them due to student loans, years ago I tried to help him by co-signing for a loan consolidation. Worst mistake I ever made! Avoid them like the plague! They bounce you around different operators until either you give up or they disconnect you. I cannot count the hours we spent trying to get someone on the phone that a) has a brain, b) speaks English, c) can help in someway. The last straw was when we agreed to a discounted payment schedule for 12 months, which they said would be renewable if the payments were on time. We also wanted to meet their criteria for payments on schedule to get me off the account as a co signer. Well, a year comes and goes, every payment is paid either on time or early, we get letters congrats ! you have made 12 months of payments on time. The new payment schedule will be mailed ..Well, of course it never was, the online account NEVER showed ANY changes, then my son gets a letter that he is in default ?!?!?!? It's my opinion Sallie Mae deliberately sabotaged us so the account would go back into default, also stopping me from being removed from the account. When we called them about this, they flat out LIED about the program, saying it was a 15 month program ?!?! Yet I have letters proving it was a 12 month program. Despite finally getting one person on the phone that attempted to help, we were told nothing can be done ! What kind of extortion and lies these slimy people use is amazing ! Apparently they are accountable to nobody! So despite us STILL making regular payments, the account remains in default (late payments) destroying our credit. This organization should be abolished, they should ALL be put in jail!

Sallie Mae representatives or very rude and obnoxious when you try to discuss your bill with them. I have had them to also mess my account up. Unable to communicate with you professionally. Awful service. I will report them to better business bureau. I will never deal with this company again. It is also a terrible problem trying to reach anyone on there phone.

I went to a private college when times were good. People were getting jobs, and it actually mattered to employers what the quality of education you got was. My parent's made enough that the government wouldn't give me anything, so I had to borrow what I couldn't work off, which was very little. Oh, I couldn't get a cosigner. Sallie Mae was the only place I could get the money. Fast forward, I am in the ranks of thousands others vying for jobs, and overqualified for most of the jobs open. I have a now useless degree, a house worth of debt, and no income.

I have been taking random jobs here and there and living from place to place. I talked to Sallie Mae today and told them that I'm doing everything I can to put gas in the car, and food on the table. I might be able to scrape up $200/month, but thats certainly all in my current situation. The person I was talking to talked to his supervisor and came back with a base offer of $400/month. He said that was the very least he could possibly charge me, and that it was paying on the interest only. I told him without a solid income there was no way I could possibly pay that much. His advice, learn to live with late charges and delinquency. That is the extent that Sallie Mae will help.

My advice to students, stay away from Sallie Mae at all costs. They will only talk to you if you are late on a payment, they are rude, half the time you talk to someone in India that doesn't understand english, and the best they can do for you in tough times is a hearty "good luck".

Sallie Mae refuses to provide accountability on loan - double talk and strong arm tactics has been the mode.

Over the course of four months Sallie mae representatives have refused to provide a written accountability of nthe account.

On line access has been a mess.

The reps are well trained to manage difficult situations by ignoring information provided, long wait times, no follow through and passing issues along. Finding someone in the chain of authority ends up with long wait times and as often as not s call that dies because no one picks up the cal;l.

It is clealy the "gang that cannot shoot straight".