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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