I'd like to clear something up about Sallie Mae 's "relentless" calls to people. They are not personally calling anyone to harrass about your delinquency. Sallie Mae works for the federal government under the Department of Education. Because of this, the fed allows Sallie Mae to call each delinquent borrower up to 6 times a day if the account is not resolved out of it's delinquency. Sallie Mae is not harrassing you to be jerks, your accounts are set up on an auto-dialer and if your account shows a delinquency of even ONE day the auto-dialer will pick it up and automatically throw your account into the auto-dialer to call. The auto-dialer will call EVERY number that is listed on the account from home phone, work phone, cell phone, co-signer, etc on the account until someone picks up and resolves the account. It's not on spite, it's done by law since this is dealing with federal money. It's not personal from Sallie Mae. If you don't want a number called, then don't list it on your account as a number to contact when you sign for your loan or call in to update your information, because it will be called if there's a delinquency. The collections specialists sit at a computer with two system screens in front of them (the Department of Education Federal Loans and Sallie Mae Commercial Loans) along with a phone/headset that is connected with to the auto-dialing system. Sallie Mae does NOT physically type in a phone number on the account to harrass anybody, nor do the agents know if you made your payments on time. If you made a payment and it did not yet clear on your account (it takes 3-5 business to clear after you made the payment) your account will show to be delinquent even if it is not. Sallie Mae's reps do not know this until the auto-dialer calls a customer and they answer the phone. As soon as they answer the phone, their account pops up with their information. The reps can only see some information, so your illnesses and other unfortunate events are in the account at the wayyyyyy top of the notes. It's best to just tell your representative of your problems during the call instead of getting frustrated with that they don't know your situation already (it actually does save a lot of time). Reps are NOT allowed to view the account before the phone calls are connected. It's impossible. They do not know who they will be talking to on the phone until either a person physically picks up the phone and connects the call, or the answering machine connects. Only then can the reps see your account. Remember, you are always speaking with different people who do not sit together and discuss your account with each because they can't by law. What happens on the phone stays on the phone between the agent and then the next agent who will handle the call in the future (unless of course a supervisor is brought on the call). Sallie Mae reps deal with hundreds of people a day individually and cannot remember everyone's personal details on their account. It's impossible, and besides, no one rep is handed a folder or an account with a delinquency and told by a supervisor to call. The auto-dialer picks it up and connects by itself as according to the law by the Federal Government. So remember, Sallie Mae is not picking on you, and there are plenty of options available to people who have financial hardships, are unemployed, or just need to lower their monthly payments. Tip: for those that can't lower their monthly payments to a comfortable amount online or over the phone, try applying for an Income Based Repayment Option (IBR). It's used to lower your payments to an affordable amount based on your annual income for the previous year and your family size. It's beneficial to most borrowers, and some people even qualify for a $0 monthly payment for 12 consecutive months. Give it a shot. Sallie Mae really does want to help, they just don't know your personal life stories as soon as you pick up the phone so explain your situation and they can provide you with some options if your circumstances permit. And last, if a Sallie Mae rep asks you a series of questions, don't get frustrated if you already answered them. They are permitted (by law once again) to ask these questions EVERY time they talk to someone with a delinquent account even if it is for only one day. Your answers may still be the same as they were when you last spoke to an agent, but give them a break and help them do their jobs by answering the questions for them since it is required. Besides, answering those questions are how the reps determine if you are eligible for one of their deferments, including the Economic Hardship Deferment and the Unemployment Deferment. Aside from the money, Sallie Mae does care about your problems. It's their job first to collect the money that has been borrowed, but if they didn't care, then they wouldn't offer deferments, forbearances, and repayment options. Thanks folks.
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