Sallie Mae
I've paid THOUSANDS of dollars and haven't touched the original principal balance! Wilkes-Barre, Pennslyvania
- 01-07-2007
- 17
I've been paying more than the principal balance each month for over a year ($2,550 so far) on my $22,500 Sallie Mae Signature Student loan. My balance is still MORE than the principal balance combined with the capitalized interest totaling over $24,000.
For two months in a row, the entire payment was posted only to interest. This amount included MORE than the payment due. The money I paid in addition to the monthly payment was inaccurately recorded to interest. It doesn't matter how much I pay this company, it's not affecting the balance!
When I've tried to talk to representatives from the company, I've been told multiple times that prime is at 8.25%. (Which has nothing to do with the price of tea in China), nor why the balance isn't going down.
I know that what they are doing is unethical and illegal. If you don't already have a Sallie Mae loan... Don't do it! Their representatives are rude and uneducated. Any helpful information on how to deal with this heinous loan would be greatly appreciated.
Company: Sallie Mae
Country: USA
State: Nationwide
Site: salliemae.com