I am almost three years out of school, from Ithaca College in Ithaca, NY. I have been dealing with Sallie Mae since and they have proven to be the most difficult aspect of college. My monthly payments started at high payments of $950 per month, which is not possible for me, not now and not then. I had been taking out forbearances until I reached my limit, which I found out last minute that they had reduced the number of forbearances I was allowed. I tried to talk to the associates to get my payments lowered, I simply cannot pay them its too high. The only thing they would do, after several phone calls to multiple rude and negligent representatives, is put me on a Rate Reduction Program. A nice woman helped me through it, the program was at a more reasonable $400/per month, I was happy with that.
Later than 2 weeks later, I get a call saying they "did the math wrong" and my payments could not be any lower than $615/month. Why am I paying for their mistakes? Representatives can't even efficiently help people calling causing more even problems.
So I've been struggling making ends meet, paying all my bills, my rent, and this inflated loan. I get an email on February 14 stating my payment due date has changed. I will not be billed until March 5. It actually specified in the email that if I had automatic billing it would not be taken out until March 5. Needless to say, the loan amount of $615 was taken out of my bank account today on March 1, withdrawing my account making it difficult to pay my rent today.
Sallie Mae constantly gives their customers wrong information, through email, through representatives, through paper statements. I don't trust this institution, it proves to be lie to me every time I deal with them.
Don't get your loans here. You're better off making a deal with the devil.
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