When I first took the loan for Sallie Mae I was told I would have several options during repayment.
They ceratinly lied about that, I have been trying to get a lump sum of what I owe and make a monthly payment on it.
They will not do that they want me to pay $394.00 a month for one loan, $274.00 on another, $172.00 on another plus the other loaners I have not contacted yet.
On top of that I am being asked to pay over $1000.00 amoth on the accrued interest on these loans.
If I do not comply they will hurt my credit.
How does a single mother of seven (7) children, with under $2000 a month income, able to pay all this?
Why did they lie about working with me for repayment?
Why did they lie about the amount of interest I was going to be paying back?
This loan started at $18000, now it's over $32000 in just 1 year.
The same has been done to my son, he got a loan for $1000. He went to school for three months. That loan is now $5000, in just one year.
I am trying to make payment arrangements for him too and they will not accept the $50.00 a month I am trying to pay.
Does the law protect us against organizations like this one?
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