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[Rant] Sallie Mae sucks

Discussion in 'BBS Hangout' started by Mulder, Aug 13, 2009.

  1. Mulder

    Mulder Contributing Member

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    So I have a mountain of debt from Law School handled by AMS, a Sallie Mae company. After graduation I decided to consolidate my loans with the Department of Education's Direct Loan program to become eligible for the loan forgiveness program. Basically, if you work for a public entity and make payments for 10 years, the remainder of the loan is forgiven. This is huge and I couldn't pass it up.

    So I consolidated all my loans, there were over 12 separate loans, with Direct Loans in March. They all went through except for 1 loan. For some reason this one loan did not get paid. I asked Sallie Mae why and they said they didn't know but that I had to start making payments on it. I requested that Direct Loans re-request the information on this one loan so that it could get paid and they did in April. and then again in May. and June. and July. and now we are in August and Sallie Mae still hasn't given the loan information to Direct Loans so it can be added to the others.

    I finally lost it on the phone with them today and now they said that they are investigating why it didn't go through. They are costing me money because I am making two payments a month instead of one. They delayed the payment so that hopefully the loan can get moved before I have to pay another month on it separate from the other loans.

    Sallie Mae is completely incompetent, they take forever to get back to you if they ever do, and the call centers are in India so you can barely understand them. The agents frequently guess as to why things are or are not happening with the loans.

    Direct Loans on the other hand has been courteous, responsive, incredibly polite and understanding, and the phone people are here in the states.

    I guess this is one case where the public option is kicking the ***** out of the private sector.

    YOU SUCK SALLIE MAE!!!! :mad:
     
    #1 Mulder, Aug 13, 2009
    Last edited: Aug 13, 2009
  2. OGKashMoney

    OGKashMoney Member

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    Last week, I had to get in touch with Sallie Mae b/c they decided to cancel my law school loan two weeks before the start of school for no reason. I was on the phone for 3 hours and I couldn't understand the lady one bit and she couldn't explain what was going on with the loan. On top of that they had me take this stupid 5 question exam before they could help me to verify my information. The exam was super-r****ded. And at the end of the convo, they still couldn't explain why my loans were canceled.

    In contrast, I just got off the phone with Direct Loans about consolidated my loans and possibly locking in my loan interest rates. They were so good!

    I second the motion that SALLIE MAE SUCKS!
     
  3. SwoLy-D

    SwoLy-D Contributing Member

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    Dude. Relax :(. Don't do anything drastic.

    Here's something to make you happy at least for a couple seconds:
    [​IMG]
     
  4. Jugdish

    Jugdish Member

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    Yeah, that fat guy's not funny at all.
     
  5. Coach AI

    Coach AI Contributing Member

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    Paying back school loans blows.

    I'm just know i'm getting screwed somehow.
     
  6. Kyakko

    Kyakko Contributing Member

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    you should watch this. it's a pbs documentry on some of the "interesting" business practices of private student loan companies including sallie mae.

    http://video.pbs.org/video/1158570286/program/1120797048
     

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