05.14.08 | Attention Sallie Mae Borrowers
If you have Sallie Mae federal student loans, you may want to get in contact with Sallie and make sure that they didn’t report your account delinquent to the credit bureaus. Not late on your payment? Neither were the other 10 million borrowers that Sallie erroneously reported as being delinquent. Some borrowers reported that their credit score dropped 100 points. While Sallie maintains that the mistake only affected borrowers who have graduated payment plans, it may be worth getting in touch with them even if you have a different repayment plan.
Good luck - I imagine their phone lines are going to be pretty busy for the next few weeks.
Filed under: News
thanks for the warning before hand. I have a friend who has the Sallie Mae federal student loans I’ll bring this to her notice so that she can check the status with them.
May 20th, 2008 | #
I’m with SM right now and they’ve been screwing me like none other. DO NOT go with them if at all possible. They make changes on you, on your payments, rates, everything and when you call, you get an outsourced service rep that does nothing but give you the run around. BE AWARE!!! Do NOT go with Sallie Mae!
June 24th, 2008 | #
I have also been screwed by Sallie Mae. I was in a horrible car accident that caused me to be hopitalized approximately 1 1/2 weeks before a payment was due. Because I was not home to schedule the payment, it was not made on time. I called Sallie Mae when I got home and explained the situation. The supervisor I finally talked to called for a payment of twice my monthly amount to be paid right then and there to keep out of delinquent status. I was unable to pay this as I had not been at work and I could only afford 1 months worth of payments. I explained that I was not making excuses that I wanted to pay me bill, I just couldn’t pay the amount that he was asking, it was feed my kids or pay Sallie Mae a large amount. He rudely said that I was under a contract and that I should borrow the money from someone, put it on a credit card (he listed all the credit cards that I have!), or go to the welfare office, get food stamps to feed my kids and pay them what I owed! I was outraged! As a result, my credit has plumeted and I have been reported as being past due for the last 24 months, and I only missed 1 month payment. Steer clear of Sallie Mae!!
August 18th, 2008 | #
Stay away from Sallie Mae, they do screw.
August 30th, 2008 | #
I have SM too and they suck! I was in school and they kept calling my co-signer saying I haven’t been paying and that they are going to ruin her credit. It took me three weeks and no voice later to get it in there head that I was still in school. What the hell!! All we want is an education and then look what happens its like there pool sharks looking for there money and now they don’t even consolidate for federal loans wtf!
September 16th, 2008 | #