Sallie Mae
Dispute of 491 Percent Increase in Loan Total After Letter

Sallie Mae

P.O. Box 9500
Wilkes-Barre

PA 18773-9500
USA January 21

Re: letter received on 12/20/13

Dear Sallie Mae,

I received your letter of 12/20 where you negated the terms of my loan agreement mailed to me on 12/03. You claim in your letter that the terms on my loan have been changed and further claim, "It's important to know that the payment terms usually change for one of the following reasons".

This is a form letter listing reasons that are general, arbitrary, and have no application to me. That the deferment or forbearance period basis is about to end - is arbitrary - without date or reference to any facts.

Your letter of 12/20 states you are bringing my loan account total to 66,223.72 with no basis in fact or law. You are charging me 5,775.46 more from 12/03 to 12/20 - in just 7 days and with no legal reason! Excuse me but the math here looks like this: (USD 5775.46 / USD 60448.26) * (360 days / 7 days) * 100 = 491,37%

My loan agreement as of 12/03 is 60,448.26 to be paid out over 10 years and my forbearance does not run out till March 1st - a date not written on the loan documents - but should be!

You have no basis in fact or law to charge me 491,37% more than the payment schedule you sent to me on 12/03 and for that reason I do not accept this additional 491,37% charge to my loan!

If you have a factual basis for this additional charge then please make it known to me. Thank you for looking into this matter.

Yours sincerely,

Company: Sallie Mae
Country: USA

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