Consumer reviews and reports on scam companies, bad products and services
Sallie Mae
Sallie Mae fraud, high interest rate,
26th of Jan, 2011 by
Sallie Mae offers fraud in interest rates.


In writing was given 4% interest, payment is in 8.5% interest with no reduction rate available. Have prior parent plus loans already in extended payment mode at 4% interest. The new loan amount is less than half of the old loan and the payment is over $100 more a month, most going to interest.


Son's student loans include capitalized"private" loans by Sallie Mae where the interest increases even as payment is made, so this is interest-bearing account for Sallie Mae.


Sallie Mae refused to send me proper forms for long-term unemployment, even though I sent it in writing five months in arow, with the long-term unemployed statement by itself to make it easier for them to read and understand.


After I filled out the "economic hardship" form twice, I get the rejection letter from Sallie Mae that my documentation is incomplete. Hello, I do not have two recent pay stubs since I am long-term unemployed. I finally got the unemployment form, which is only good for one year, and a total of three years maximum.


Sallie Mae sends me a letter after I have sent the correct information and the correct form and the third request for deferment for one loan payment needing to be made.


I requested a congressional inquiry to have Sallie Mae's finance strategy be thoroughly investigated, since it sounds exactly like what happened with the mortgage funding.


At this point, I check complaints on the internet and discover that people all over have had issues with Sallie Mae and more so after they got all theloans transferred to their greedy hands.


I hope that there is someone out there who can help stop this company from abusingstudents and parents who want to help their children get a "higher" education.


I have acute anxiety from the way I've been treated by Sallie Mae.


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