Sallie Mae
Private Loans, Deferment Payments and Interest Rates Criticized
- 12-20-2011
- 95
Sallie Mae is earning money through "private loans", high interest rates, payments for deferments, and keeping these funds for personal bonuses for staff and management.
Sallie Mae is getting the loans through Department of Education and creating the same situation as happened with the mortgage companies fraud.
Please fix the problem for everyone.
Remove the limited time for deferments, the payments for deferments, lower the interest rates and remove the "private loan" hidden interest bearing accounts.
Provide extended payment plans for all loans, no matter the amount.
Long term unemployment creates financial hardship that lasts a long time. Schools promise jobs, "higher education" is supposed to help. None of those promises has been kept, either by Sallie Mae nor the schools.
Sallie Mae can turn around the problem by improving their finance program to benefit the users, not their staff's pockets.
Company: Sallie Mae
Country: USA