Sallie Mae
Excessive Interest Calculation and Misapplied Loan Payments

Sallie Mae uses uncouth formulas to calculate the monthly interest on what is supposed to be a simple interest loan. They also apply payments incorrectly, especially when extra monies are paid forth on the loan to pay down the principal. The record keeping is very erratic and the payment schedule is not consistent in keeping of what has been paid. It is my belief that Sallie Mae has administratively screwed me out of at least $1800.00 dollars and possibly more over the years that I have been repaying my loan. Their practices are most fraudulent and as usual, customer service people, and their

Management have not clue ot they pretend they don't and cannot justify what they are doing. I have asked for a full accounting of all my payments and it has been over 6 weeks, several phones calls and still no response to my request.

Company: Sallie Mae
Country: USA
State: Pennsylvania
City: Wilkes-Barre
Address: P.O. Box 9500
Phone: 8882725543
Site: salliemae.com

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