Comments on: Sallie Mae SUCKS! http://stupidsucks.com/2008/02/25/sallie-mae-sucks/ A blog about web design & development, freelancing and the occasional rant about the stupid things I encounter in life. Sat, 20 Mar 2010 21:16:21 -0700 http://wordpress.org/?v=2.8.4 hourly 1 By: Cara http://stupidsucks.com/2008/02/25/sallie-mae-sucks/comment-page-2/#comment-7168 Cara Sat, 27 Feb 2010 01:38:43 +0000 http://stupidsucks.com/?p=4#comment-7168 I hate Sallie Mae so, so much. I hate Sallie Mae so, so much.

]]> By: Cara http://stupidsucks.com/2008/02/25/sallie-mae-sucks/comment-page-2/#comment-7167 Cara Sat, 27 Feb 2010 01:37:47 +0000 http://stupidsucks.com/?p=4#comment-7167 Sallie Mae preys on low-income students. If I could borrow money from my relatives don't you think I would have done that instead of take out loans with Sallie Mae? What a terrible company. Sallie Mae preys on low-income students. If I could borrow money from my relatives don’t you think I would have done that instead of take out loans with Sallie Mae? What a terrible company.

]]> By: Cara http://stupidsucks.com/2008/02/25/sallie-mae-sucks/comment-page-2/#comment-7166 Cara Sat, 27 Feb 2010 01:35:58 +0000 http://stupidsucks.com/?p=4#comment-7166 this is exactly how I feel. this is exactly how I feel.

]]> By: Maxie Smith http://stupidsucks.com/2008/02/25/sallie-mae-sucks/comment-page-2/#comment-7159 Maxie Smith Thu, 25 Feb 2010 22:37:18 +0000 http://stupidsucks.com/?p=4#comment-7159 My son applied for Sallie Mae loans to attend a vocational school. Unfortunately the school provided little in the way of education and marketable skills. Also, financial crises prevented him from completing the remainder of his second year. Since then he has had to settle for crappy jobs with crappy pay and now has a debt to repay that adds interest exponentially. My son tried to talk to them, when he could actually get hold of a human being and to try to find a middle ground of compromise such as how about a payment that is realistic with the cost of living and wages…all for naught. He was unable to eke out a living with his wages and when it came down to buying food or paying a student loan payment, he opted for the food. Sallie Mae's debt collection and customer service techniques border on criminal and cruel and unusual punishment. They make resolutions impossible and their monthly payment programs are disproportionate to my son's, to anyone's income I would surmise. The debt was eventually turned over for collections and we all know there is a special hell for those folks their methods are inhumane, unethical and unreasonable. He now has to deal with the collections and the government in some form or fashion; needless to say he comes up against two very unreasonable and unmerciful entities. The government has their agenda and and collections has theirs and neither the twain shall meet. He has currently lost his job and he decided to go back to school and was doing some research on the student loan debacle and discovered there might be some way that not only would he benefit from but that it would make it possible to make some head way into eventually paying back his student loan. He contacted the collection agency that holds the student loan and they told him that if he could consistently make monthly payments for 10 months his loan would go out of default and then he could reapply for student loans. He was also told that they would not attach his tax refund. Well that was a lie because they did and my son received a letter from the treasury department that they had indeed withheld and applied his measly tax refund to the student loan. So now I am thinking if they lied about that they might be lying about the “10 month” deal. He has enlisted my help in assisting him in making these monthly payments and I can’t afford them either. I am now though skeptical if making these payments will actually help him out of the “default status”, allowing him to indeed apply for more student loans to finance a better education for a better paying career. What’s the deal! My son applied for Sallie Mae loans to attend a vocational school. Unfortunately the school provided little in the way of education and marketable skills. Also, financial crises prevented him from completing the remainder of his second year.
Since then he has had to settle for crappy jobs with crappy pay and now has a debt to repay that adds interest exponentially. My son tried to talk to them, when he could actually get hold of a human being and to try to find a middle ground of compromise such as how about a payment that is realistic with the cost of living and wages…all for naught. He was unable to eke out a living with his wages and when it came down to buying food or paying a student loan payment, he opted for the food. Sallie Mae’s debt collection and customer service techniques border on criminal and cruel and unusual punishment. They make resolutions impossible and their monthly payment programs are disproportionate to my son’s, to anyone’s income I would surmise.
The debt was eventually turned over for collections and we all know there is a special hell for those folks their methods are inhumane, unethical and unreasonable. He now has to deal with the collections and the government in some form or fashion; needless to say he comes up against two very unreasonable and unmerciful entities. The government has their agenda and and collections has theirs and neither the twain shall meet.
He has currently lost his job and he decided to go back to school and was doing some research on the student loan debacle and discovered there might be some way that not only would he benefit from but that it would make it possible to make some head way into eventually paying back his student loan. He contacted the collection agency that holds the student loan and they told him that if he could consistently make monthly payments for 10 months his loan would go out of default and then he could reapply for student loans. He was also told that they would not attach his tax refund. Well that was a lie because they did and my son received a letter from the treasury department that they had indeed withheld and applied his measly tax refund to the student loan. So now I am thinking if they lied about that they might be lying about the “10 month” deal. He has enlisted my help in assisting him in making these monthly payments and I can’t afford them either. I am now though skeptical if making these payments will actually help him out of the “default status”, allowing him to indeed apply for more student loans to finance a better education for a better paying career. What’s the deal!

]]> By: Jeremy E http://stupidsucks.com/2008/02/25/sallie-mae-sucks/comment-page-2/#comment-7157 Jeremy E Thu, 25 Feb 2010 20:40:08 +0000 http://stupidsucks.com/?p=4#comment-7157 I have 3 loans through Sallie Mae. When my repayment began in July of 2009, the paymets were cents shy of $900 a month! I work in the service industry since I haven't been able to find a job in my field, and I pull in the ballpark of $1500 a month. This pays for my rent, bills, food, and my federal loans (which amount to much less than half of the Sallie Mae payment). Since their payment is so high, I was "purchasing" forbearances for $50 per loan and the forbearance lasted 3 months. At the end of the 3 months, I had to purchase another forbearance. Oh, and they keep adding interest. My father co-signed one of the loans and has been gracious enough to help pay that one. I just called Sallie Mae about getting forbearances on my other loan (the same 3-month thing) and I was told that they no longer do that. The only way I could get a forbearance and to have them lower my payment was to go on a plan where my payment gets lowered to about $450 a month (for the two non co-signed loans) and they will give me a one month forbearance. Bullshit. I've been getting by, but I can't with another $450 charge. One way or another, they'll get their money. How about making some reasonable interest rates? Or what about affordable payments? At this point I'm thinking about taking 6 credits worth of BS classes at the local community college so I can defer this shit. The cost of the classes will still be cheaper than paying Sallie Mae for 6 months. I have 3 loans through Sallie Mae. When my repayment began in July of 2009, the paymets were cents shy of $900 a month! I work in the service industry since I haven’t been able to find a job in my field, and I pull in the ballpark of $1500 a month. This pays for my rent, bills, food, and my federal loans (which amount to much less than half of the Sallie Mae payment).

Since their payment is so high, I was “purchasing” forbearances for $50 per loan and the forbearance lasted 3 months. At the end of the 3 months, I had to purchase another forbearance. Oh, and they keep adding interest.

My father co-signed one of the loans and has been gracious enough to help pay that one. I just called Sallie Mae about getting forbearances on my other loan (the same 3-month thing) and I was told that they no longer do that. The only way I could get a forbearance and to have them lower my payment was to go on a plan where my payment gets lowered to about $450 a month (for the two non co-signed loans) and they will give me a one month forbearance.

Bullshit. I’ve been getting by, but I can’t with another $450 charge. One way or another, they’ll get their money. How about making some reasonable interest rates? Or what about affordable payments?

At this point I’m thinking about taking 6 credits worth of BS classes at the local community college so I can defer this shit. The cost of the classes will still be cheaper than paying Sallie Mae for 6 months.

]]> By: Jose http://stupidsucks.com/2008/02/25/sallie-mae-sucks/comment-page-2/#comment-6948 Jose Wed, 20 Jan 2010 19:47:14 +0000 http://stupidsucks.com/?p=4#comment-6948 WOW, They are a whole bunch of Cawards and Greedy Mothers-Of-Fuzzers...I'm currently in a position, where they are getting Nothing.Not.A.Penny from me..they will harrass you.and tell you forbarance this and that..Don't be scared, they are like the Mafia. Looking for your money.. I think i have defaulted, but i rather default than give them any more money. This has haunted me the same way as it has haunted you..But I will not Steal the plate of foood from my family to give it to them.... My Advice is to TELL them next time...That you are RECORDING the conversation...aND COMMENT ME BACK...to hear what they had to say.....I know the answer...i have done it....You will be surprised.... My advice is Don't waste your breath and money...they can tell you, the worst because they want that last PENNY you have.... Right now, i careless if i have defaulted.... LET ME KNOW, I Understand your situation...I have given them so much money, I owe them more than what i though i did..thats when i said..Wait...a minute.....NO MORE>>>>forberance>>>no more calls>>>>>SCREW SALLIE MAE..and what it stand for....CROOKS, CROOKS, CROOKS.... WOW, They are a whole bunch of Cawards and Greedy Mothers-Of-Fuzzers…I’m currently in a position, where they are getting Nothing.Not.A.Penny from me..they will harrass you.and tell you forbarance this and that..Don’t be scared, they are like the Mafia. Looking for your money..

I think i have defaulted, but i rather default than give them any more money. This has haunted me the same way as it has haunted you..But I will not Steal the plate of foood from my family to give it to them….

My Advice is to TELL them next time…That you are RECORDING the conversation…aND COMMENT ME BACK…to hear what they had to say…..I know the answer…i have done it….You will be surprised….

My advice is Don’t waste your breath and money…they can tell you, the worst because they want that last PENNY you have….

Right now, i careless if i have defaulted….

LET ME KNOW,
I Understand your situation…I have given them so much money, I owe them more than what i though i did..thats when i said..Wait…a minute…..NO MORE>>>>forberance>>>no more calls>>>>>SCREW SALLIE MAE..and what it stand for….CROOKS, CROOKS, CROOKS….

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