The Lounge
Moderators: spoiled_candy, Mollybygolly, nomoreexcuses, peaches0405


Sallie Mae makes me want to murder someone...


Quote  |  Reply

RANT: : : : : Ohh student loans. I went to Art school, cause I'm artistic and thought college would pay off in the end. Now 10 years later and still paying on my student loans, with a creative job but I work with many people who didn't go to college at all or very little. Making the same amount as me, dept free or at least no school dept. So this past March Sallie Mae decides to double my payments without telling me.

 

I have my loans set up on automatic payment through my bank. I usually pay a lousy 10% more than my minimum payment, but now it wants me to pay double that as my minimum. I found this out because my husband did our taxes last week. I looked up the interest paid amount to deduct from our taxes and saw I had a late fee and a past due amount. Me being the nerdy computer dork I am, sent them an email asking why my payments doubled and how I got a late fee.

I just realized today I didn't get a response once I received an email from them telling me I owe XXX.XX by 4/27. So I call them and get a nice Indian Robot lady. I ask why and she say's it was scheduled to go up in March of this year and she's sorry I didn't receive the email that was suppose to be sent out to me. I tell her about the email I sent last week and how I didn't get a response, but there's just silence. So I ask again and she say's she doesn't know. I ask her about taking the late fee off and she tells me there is not late fee at this time. Yeah, that's because they took it out of my last payment I automatically sent (as I do every Month) even though it was less than the new amount due. Silence again. So what about that late fee? She repeats, there is no late fee at this time.

I really had no beef with Sallie Mae before now. Please let me talk to someone who understands me and can actually tell me what's going on. And respond to my fing email!

I would love to transfer my loans to a different place with the same or lower interest rates just because I now hate Sallie Mae.

 

Can't afford college? Don't go. Don't do it, don't take out them loans....

10 Replies (last)

Debt is slavery.  People forget that.

You can refi student loans but if I remember right, you only get one bite at the apple so make sure it's a good deal.  Or if you've got a home, sometimes people can wrap up their student loans in a home refi, which is great too since the interest rate is so low.

Good luck!

If you call back and receive an outsourced person again ask for an "on shore operator"  demand to speak to someone in the United States that speaks English.  They have to transfer you if you request.  They may ( usually) will try to talk you out of that, but you do have the right to make this demand of the call center.  

I deal with this issue often with a major insurance company's provider service center.  Before they even start I demand the on shore operator and after a minute of telling them to shut up and transfer me I get to speak to someone who understands me and I understand them.

 

kids are sold this vision of being graduated with a well paying job, vs. the reality of what they'll make based on their career path. 

why the common thought is that everyone needs a high priced education and it's senseless to me.  i really hope my kids consider community colleges, taking classes online before transferring to a larger school, or even taking a more vocational approach, before signing on to loans they may or may not be able to pay for later.  

Sallie Mae - so does that mean you have private student loans and not federal direct loans or stafford loans?

Clark Howard says you should never, under any circumstances, take out a private student loan.... 
Clark's rule: When borrowing for college, be sure to max out whatever federal loans you're offered. Should your college expenses exceed your level of federal loans, consider going to a cheaper school, picking up extra work or whatever else you have to do to avoid private student loans at all cost.

So I'm not sure but I think that limits your options in terms of what you can do about it now.

All the programs I've seen to help students apply only to federal loans.

Any time you call customer service and it's a call center (not a local location) you can always ask to speak to the person's supervisor. And usually you can keep asking for that person's supervisor until you get someone who can help you, even if that means you end up talking to the senior VP of whatever.

But for these private student loans, I think you're going to have to call Clark Howard directly. Call from 1 PM to 3 PM eastern time.

  • (877) 87-CLARK
  • (877) 872-5275
  • (404) 872-0750

He'll know if there's anything you can do.

If there is one advantage of not having Englich as your mothertongue it's that callcenters can't be moved to Aisa or India.

No offense to Indian operators in general - they work horrible hours and a lot of them do a decent job - but quite a few of them aren't trained well and they have absolutely no authority to really help you with something. Even if they wanted to, they don't have access.

 

Good luck with the loan. We had no tuition fees when I was a student and today I am not sure I'd pay for a full university degree. In many jobs it just doesn't pay off anymore. 

it's bs that my federal loan rates are almost 7% but sallie mae are 2.9%

however, I have a lot more options with my federal loans than I do with sallie mae.  I was very lucky that my family helped me, that I worked through school, and had a lot of scholarships or I'd be way worse off. :\

Well, this is terrifying. I'm off to Uni next year for all my yummy loans. :|
Original Post by februarystars:

it's bs that my federal loan rates are almost 7% but sallie mae are 2.9%

however, I have a lot more options with my federal loans than I do with sallie mae.  I was very lucky that my family helped me, that I worked through school, and had a lot of scholarships or I'd be way worse off. :\


Why are your federal loan rates 7%?

Mine are 3.75%.

current salary aside, do you really believe your education was worthless?

Original Post by rockyoursocksoff:

RANT: : : : : Ohh student loans. I went to Art school, cause I'm artistic and thought college would pay off in the end. Now 10 years later and still paying on my student loans, with a creative job but I work with many people who didn't go to college at all or very little. Making the same amount as me, dept free or at least no school dept. So this past March Sallie Mae decides to double my payments without telling me.

 

I have my loans set up on automatic payment through my bank. I usually pay a lousy 10% more than my minimum payment, but now it wants me to pay double that as my minimum. I found this out because my husband did our taxes last week. I looked up the interest paid amount to deduct from our taxes and saw I had a late fee and a past due amount. Me being the nerdy computer dork I am, sent them an email asking why my payments doubled and how I got a late fee.

I just realized today I didn't get a response once I received an email from them telling me I owe XXX.XX by 4/27. So I call them and get a nice Indian Robot lady. I ask why and she say's it was scheduled to go up in March of this year and she's sorry I didn't receive the email that was suppose to be sent out to me. I tell her about the email I sent last week and how I didn't get a response, but there's just silence. So I ask again and she say's she doesn't know. I ask her about taking the late fee off and she tells me there is not late fee at this time. Yeah, that's because they took it out of my last payment I automatically sent (as I do every Month) even though it was less than the new amount due. Silence again. So what about that late fee? She repeats, there is no late fee at this time.

I really had no beef with Sallie Mae before now. Please let me talk to someone who understands me and can actually tell me what's going on. And respond to my fing email!

I would love to transfer my loans to a different place with the same or lower interest rates just because I now hate Sallie Mae.

 

Can't afford college? Don't go. Don't do it, don't take out them loans....

student loans are a nightmare. I tried to talk my daughter out of taking student loans for college. She has a masters degree now BUT also 50,000 in debt. I told her it will probably take 20 years to pay that off. I wish she would have been able to finish school without all the debt.

10 Replies
Advertisement
Advertisement