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Sallie Mae SUCKS!
- Author: Jarel
- Filed under: The Stupids
Feb 25,2008
Ok seriously Sallie Mae, do you think i’m going to manage coming up with $400 over the next hour? Every hour i’m getting called and harassed by you people. No, I can’t borrow from my grandparents, what the hell is wrong with you? No, i’m not going to borrow the money from my friends, siblings, parents, aunts or uncles, or anyone else. Being rude and yelling at me isn’t going to make me pay you any faster nor will it make money come flowing out my ass!
So what the hell is wrong with Sallie Mae? These people call me literally like 20 times a day telling me that if I don’t pay them that they will report me to credit places and ruin my credit. LOL I was in a motorcycle accident that incurred thousands of dollars of medical bills, etc. My credit is already ruined because I couldn’t afford to even pay those back fast enough!
I don’t think any professional company should actually yell at people or hang up on them. I am the customer and I am always right (at least be polite is what I mean). I couldn’t believe how these people treated me. If you work at Sallie Mae and you are reading this, pray that you never meet me in a dark alley or secluded area. The treatment i’ve gotten has been ridiculous. I maintained a polite tone of voice several times only to pull the phone from my ear from them getting so frustrated with me because I simply don’t make enough per month to afford my bills AND their $400 per month payments.
Ok, end of rant….
Sallie Mae is ridiculously stupid, not only their employees but the way they run their business.
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17 Responses for "Sallie Mae SUCKS!"
Man, I didn’t even have to read past the title to pick up on what you were laying out there with this blog post man. I mean, Sallie Mae Sucks. That really does say it all, doesn’t it. I don’t have personal experience with Sallie Mae sucking but I did know this woman once who had those skills as well. Yep, we used to call her Misses Hoover around the neighborhood. She’d only charge $5 to show us her God given talents. We’d go in one at a time of course. I mean, it wasn’t like we were in a porn film or anything. I mean, she should have been, what with the way she handled herself.
Umm… after reading the article, I’ve come to the conclusion that you weren’t talking about the same thing I thought you were. As it stands, I think my story is better.
Ok, first things first, when you got in your accident the first thing you should have done was contact ALL your creditors. There are options available for your student loans if you are in a situation where you cannot pay them. I personally know of two… deferment and forebearance. One of these would have been an option for you. Have you tried to take this route with Sallie Mae??? They’re calling you because you owe them money! They are a creditor, just like Captial One, American Express etc…. If you cannot make your payments they always have options for you. Instead of griping and complaining, try to do something to help yourself out. You said in your blg you can’t pay the other bills you have….. Take action and do something about it!!!! Those who don’t find a solution have no right or reason to complain about it!!!!
I have done both options with sallie mae (deferment and forebearance) but those are for a specific period of time. Now, something they don’t tell you until way down the road is that they can actually set you up on a payment plan that pays interest only. At least then you don’t go into deferment but by the time you can actually pay the loans back, you’ll be paying more in interest than you will for the loan itself.
When your total monthly bills from creditors, living expenses, etc. exceed that in which you make monthly, there aren’t many other options. Now much of the problem was going through a huge learning process.
When you’re young and don’t have any experience with creditors, debt, etc., you don’t really know what to do or how to handle things. Many people get depressed, discouraged, etc. which just makes things worse. After you have gone through the thick and thin of it and managed to keep your chin above water, you know what you should have done. Hindsight is always 20/20.
The methods Sallie Mae uses to get money from people is morally wrong, rude and unprofessional. I’ve heard of credit card companies being cut-throat but they don’t even come close to comparing to how Sallie Mae is.
I would like to say that you are absolutely right! There are so many things I should have done right from the very beginning that I knew I should have and didn’t. I’m paying the price (literally) for being ignorant and lazy in my youthful years.
Sallie Mae does suck. I’ve been dealing with them for 5 years. Personally Jarel if you haven’t dealt with Sallie Mae then you shouldn’t post comments. Sallie Mae sucked up all my student loans and decided they’d throw the bulk into a private “signature” loan. It was something I couldn’t do anything about. They bought my loans and they can do that. However, their ethics are very wrong and they are in business to screw people over. Their customer service is known as the worst ever. Their people are rude and vicious and this was even before I had any problems with my account. The private loan they chose for me was locked in at 18% interest. This made my payments out of school over $700 a month. Tell me who makes that kind of money out of school to be able to afford to eat and pay that? Certainly not the school I graduated from. Yes I’m aware of forbearance and deferement. Did that because I let them know I couldn’t pay that much money. It wasn’t that I was trying to get out of paying, it was that I couldn’t afford to pay that much and when I signed up for the school they told me the loan payback would be around $300 a month, not $700 so that’s a pretty big difference. After a while I was out of forbearance and deferrment options. I was still unable to make that amount of payment and because of the type of loan Sallie Mae set it up to be, there was no way I could consolidate or refinance it with Sallie Mae or any other company on the planet for that matter because believe me I tried. I asked what would happen if I simply sent in what I could afford be it $300 or $500 a month and the reps told me that if I didn’t pay the minimum due regardless of if I was trying, they would still consider the balance late and charge me late fees which if I didn’t bring current they would default my loan, report it to the credit bureau’s and send it to collections where lawyers would then just garnish my wages or try to take my house. Lucky me I don’t own a house any more. So there it was. Sallie Mae’s solution to me trying to pay the loan was to say screw you anyway, we’ll take all the money you send us but it won’t do you any good. So my decision was not to pay them at all. So now it’s on my credit and I don’t care because they are a horrific company with very bad business eithics which is why they constantly have class action lawsuits against them for their business practices and they are known for screwing students over, all over the world by locking them in to privitized loans at outrageous interest rates and they do not disclose this information to you what so ever. On top of that even you get loans through someone else, chances are, Sallie Mae will end up buying them out and doing it to you. It was bad practice on my school’s part to participate in Sallie Mae’s games and get kickbacks from the loans which is also why they have gotten sued. So you see Jarel, it isn’t because we are lazy or making bad decisions. Some of us have tried very hard to work with Sallie Mae, the fact is, they refuse to do anything espcially if they have you locked in an 18% loan for $18,000. They actually bank on you not being able to pay it so they can put a lien on your house or take your car away from you but they lost out with me because I don’t own any real property and for that very reason. I tried to make payments to them and they refused them and I refuse to relentlessly send money to a company that is just going to pocket it and pretend I didn’t send anything and still default my loan. What would be the point in paying thousands and thousands of dollars and it not reducing the debt what so ever and them still trying to sue me for even more in the end? The comment of Sallie Mae always having options for you is a flat out lie unless you consider default an option. It wasn’t an option in my case. Unless I had the $700 a month, I would go in to default. the other part of the forbearance and deferrment are, you are still accruing interest so after all the time I did that, my payments went up to $800 a month. So if I deferred them because I couldn’t pay $700 a month, what makes you think that in 6 months I’d be able to afford $800 a month??
Hey there. I’m going through the same thing right now. They are rude and finally I got smart! I started recording the phone conversations whether or not they wanted me to. And the time I did not tell them I was recording was when I had the best conversations! I posted the conversation on youtube sent all the CEOs CFOs and Sallie Mae name I could find on google search and told them all to go listen to their collections people. They stopped call for some time. The just recently started again but I filled a complaint to BBB. Told the BBB to check out my youtube broadcast and sent Sallie Mae and all their Excu. a copy of the complaint and I have not heard from them since. Good luck with everything. I’m right there with you! Please spread the word to all your friends and check out my broad cast on youtube.
Search for hexagon2007 on youtube.
Also if you want some advice out there let me know!! I’ve learned a lot from my own experience with them.
Hey Vic, thanks for commenting on this! What kind of stuff have you done to help you with this situation? Each time I talk to them it just ruins my day (sometimes the days that follow as well) and I can’t seem to make any headway with them unless I can pay $500+ per month. In the location I live with the income I have, that’s just not possible right now.
Suggestions for myself and anyone else that reads this?
Thanks!
If you do ever come across a Sallie Mae employee in a dark alley, call me. I’ll help you.
I had a baby and they made me pay for a forebarence even though it clearly states that taking time off work to have and care for a newborn is grounds for deference (forbarence you have to pay fifty bucks for each loan up to $150). I can only work part time right now because I didn’t finish school by two classes (and couldn’t take them when I was pregnant because of the labs and the danger it posed to my unborn child) and no one will hire someone who almost has a degree. Fortunetly, I have benefits for both me and my daughter, but I only have about 300 bucks left after my bills are paid each month. WE are living with family because we can’t afford to move out and with the rising cost of living are afraid we will end up in trouble if we do move out.
I explained this to Sallie Mae.
Four times.
I pleaded for help.
They sent my call to the forebarence office.
The forbarence specialist told me I should get a job full time to help supplement my income.
wow. I never thought of that! Thanks! let me go tell my boss I can work all the time! Oh, yeah, my 6 month old? she can watch herself….or I could put her in childcare which would cost more than I would be making, which is why I only work part-time to start off with…
They think everyone is an ATM. They put their card in you, punched in the pin and now they’re waiting for their money.
I found a great article on 60 minutes website about how Sallie Mae screws everyone, even tax payers, since when you don’t pay your loan, the government pays them. And since they own a lot of the top collection agencies, when the collections agency gets your money, part of it still goes to Sallie Mae. So the government pays them and you still have to pay them.
When will some one stop them!?!?!
ps-my payments have recently gone over 1000 a month, but they told me due to my credit history they can’t offer me a better payment schedule to reduce my payment….except to give me five more years, bringing my payments to barely over 900 a month. How could anyone pay that?!?! When I beg for help I get hung up on.
I just got off the phone with Sallie Mae after they called my house four times in a row in the past 10 minutes on a Wednesday night at 8:45! I am beyond irrate, I have never been so angry in my entire life. I can not believe the teatment Sallie Mae displays to their customers. I am $300 behind due to a bad commission check a couple of months ago. After working hard and receiving my degree in design, I struggled to build a clientele. A $350 payment for a student fresh out of college, alone is ridiculous, not mention to a designer who had zero business starting in a interior design firm. Their “employees” treat me like a criminal on the phone and badger me like I have never paid a cent. Something has to be done about this. How the economy is right now is stressful enough, being harassed by a company who screws us with high interest rates is maddening! Something needs to change, there are too many people out there dealing with this issue. My husband is meeting with the Attorney General to report this unfair harassment. Anyone in a bad situation or making an attempt to pay should be helped not treated like a irresponsible debtor. I mean, we all tried to better our lives by opening a student loan to acheive a higher education. How can a loan provider turn around and treat us this way. Help!!!
Please review the Sallie Mae contacts below and start an email campaign explaining their situation and the poor practices of Sallie Mae. Make sure you ask them to include a media source of any kind and if they have a lawyer or congress person to add that would be outstanding as well.
Lord Albert L
Chief Executive Officer
email: albert.lord@salliemae.com
Mike Walter
COO & Senior Director, Private Credit Collections
email: Mike.Walter@salliemae.com
Roy Mellinger
Vice President and Chief Security Officer
email: roy.mellinger@salliemae.com
Carol Rakatansky
Vice President and Assoc. Gen. Counsel
email: Carol.Rakatansky@salliemae.com
Eric Reicin
Senior Vice President and Deputy General Counsel
email: Eric.Reicin@salliemae.com
Tom Joyce
Senior VP, Corporate Communications
email: Tom.Joyce@salliemae.com
Deborah N. Fahle
Senior Vice President
email: deborah.fahle@salliemae.com
Christy Marble
Vice President, Brand and Consumer Marketing
email: Christy.Marble@salliemae.com
Frank C. Hollister, IV
Senior Sales and Marketing Executive
email: frank.hollister@salliemae.com
Amy Brashear Miranda
Director / SVP Mid - Atlantic Sales
email: amy.miranda@salliemae.com
Laura Daly
Vice President, Credit
email: Laura.Daly@salliemae.com
Nancy Deck
Senior Vice President, Corporate Marketing
email: Nancy.Deck@salliemae.com
Jan DeFalco
Managing Director, Brand and Consumer Marketing
email: Jan.DeFalco@salliemae.com
Chris Dwyer
Vice President of Sales
email: Chris.Dwyer@salliemae.com
Asim Walia
VP of Sales
email: Asim.Walia@salliemae.com
Jim Eickhoff
President & VP Sallie Mae National Sales
email: Jim.Eickhoff@salliemae.com
Suvendu Pal
Vice President, Financial Planning and Analysis
email: Suvendu.Pal@salliemae.com
Marcos Bronfman
Vice President at Sallie Mae
email: Marcos.Bronfman@salliemae.com
Michael Hynes
Vice President, Leadership and Employee Communications
email: Michael.Hynes@salliemae.com
Brian Burgess
Vice President of Finance and Information Research
email: Brian.Burgess@salliemae.com
Lori Urias-Gehris
Leadership Development
email: Lori.Urias-Gehris@salliemae.com
Rick Robey
Vice President, Marketing
email: Rick.Robey@salliemae.com
Ramiro Fonseca
Senior Vice President
email: Ramiro.Fonseca@salliemae.com
David Leonard
Title unknown works with Roy Mellinger
email: david.leonard@salliemae.com
317-578-6704.
I can’t keep up with the late finance charges imposed on Sallie Mae’s billing practices. My bill arrives just before the due date and even if I turned around and sent the money in the next day’s mail it would still be late and then the next months bill would reflect another late charge.
Why don’t they send yearly coupon books out so that a person could send in their monthly payment before the due date and not wait for their monthly billing statement that comes just before the due date; but then again they couln’t rake in all that late pentalty money that is made off the poor struggling student or make all those harrassing phone calls all hours of the day and night.
@Dan - I would suggest finding the due date in the month for your payments. It should be the same day each month. Then, instead of waiting for your bill to show up, you can just send out a check ahead of time.
Sallie Mae will do anything and everything to get your money and screw you, don’t let them get the best of you.
Sallie Mae is the worst. Most creditors are happy to work with with people, but not Sallie Mae. They want their money, and they want it last week! They called my house continuously thoughout the day for weeks, even after having made the arrangments to pay them!
I guess you could say they’re lucky Osama Bin Laden didn’t take out a loan with them. I know. That was a bad joke, but you can’t honestly say the thought of it doesn’t make you smile just a LITTLE!!!
Yep, I’m going through this exact situation with Sallie Mae right now. They refuse to work with me in getting current on my loan and I will have no choice but to default on it. I’m in grad school full time and the loan in question is a private loan that I took out to pay for training at a place called Video Symphony–a terrible school, by the way. Well, this loan doesn’t qualify for deferment or forebearance so those options are gone, and I don’t have the money to bring this current. It’s a shame really. I’m willing to pay them something but they want it all right now. Their customer service reps are also very rude. I emailed them about it, but they obviously don’t care.
Hi, I am going through the same things. However, I co-signed for my daughter and while she was in school they were constantly harassing me. I had my daughter call the schools financial add office and the school would send Sally Mae latter after latter stating that she was still in school so why were they still harassing me if my daughter never stopped going to school.? I’d like to know this can they take my house or my car if my daughter can’t afford to pay them ???? Now my daughter is depressed and is constantly crying because she’s afraid that there going to take my house.
(SIGNED) DESPRET MOTHER
Hi, I am going through the same things. However, I co-signed for my daughter and while she was in school they were constantly harassing me. I had my daughter call the schools financial add office and the school would send Sally Mae latter after latter stating that she was still in school so why were they still harassing me if my daughter never stopped going to school.? I’d like to know this can they take my house or my car if my daughter can’t afford to pay them ???? Now my daughter is depressed and is constantly crying because she’s afraid that there going to take my house.
(SIGNED) DESPRET MOTHER
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No, they will not take your house or your car. If your daughter is still in school just tell them when they call you and get the documentation from her school. If they keep calling you after the school has sent them the documentation, keep it on hand and when they call you again tell them you can fax proof right then and there.
IF they tried to get anything from you, it would be wage garnishment which doesn’t happen for a long long time. You have nothing to worry about.
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