I have cosigned a loan

VivianO

San diego

they lie about their interest rates. been paying on a $25,000 loan for 4 years now, and my new balance is $24,252 This sucks. 30 year loan. They should not be able to have private loans only federal. I think our government needs to step in and not let them go higher than 5% on a private loan. Change all private loans, and pay back all the extra interest already paid out, or add it to the principle. I am going to have this loan until I die.

JasenS

USA

I got four student loans through Sallie Mae and the interest rates were horrendous for no apparent reason. I had a solid credit score (over 700) and I had a cosigner with strong credit and high income. Still, my APR was 8.25, 8.50, 8.75, and 10.625... By the time I was beyond my grace period, I noticed that I had acquired over $8,000 in interest WHILE I WAS IN STILL IN COLLEGE. I began paying off my loans 6 months after I graduated and was paying well above my minimum payments. Then, suddenly, additional amounts of money were disappearing from my bank accounts. I looked into it and discovered that Sallie Mae had pulled out an extra $921, which sent my bank account into the red and charged a $31 overdraft fee for going negative. After sending copies of banking statements and hours on the phone with (barely comprehendable) Sallie Mae customer service, they promised to refund me the money that was mistakenly pulled from my account but not the overdraft fee. I waited for 3 weeks with my account below zero before receiving my refund. I refinanced my loans through a different company for more reasonable rates and they paid out my loans and I thought I was done with Sallie Mae for good. Then it happened again. Another $921 was pulled out of my account by Sallie Mae TWO DAYS before the refinancing was finalized. I was once again promised a refund, this time including the overdraft fee. That was 5 weeks ago and I still have not seen the money returned. In summary, 5 months ago I began repaying my loans. Sallie Mae has pulled almost $2000 in extra funds from my accounts 'by mistake'. I have been on the phone with customer service for Sallie Mae over 20 times in those 5 months. Sallie Mae is a criminal-level company and should NEVER by utilized for student loans EVER. Go through your local credit union for student loans.

Applesauce292

USA

The majority of undergraduate students don't read the fine print when they're applying for a student loan. This was definitely me! I've been out of school almost 3 years and Sallie Mae has RAPED me of money. I took out a loan for 7,000 dollars and am nearly paying back 11,000. what a crock of SH**!! I don't recommend EVER using them.

hlg0035

USA

I was lured by Abco Technology and way overcharged with their course, which they did not fulfilled. Sallie Mae , the lender, were very well aware of this practice because I TOLD THEM, but they did not and do not care about students just like the school itself. School kept the money, but Sallie Mae continues to charge the money from me knowing that they gave the money directly to the school and the student, me, never got the intended education due to school's fraudulent actions. So Sallie Mae by allowing this and providing more loans to such school and other similar ones is just as guilty. Never get a private student loan, higher interests, no protection whatsoever for students, all they care for is profit, they don't bother to check schools ethics and even knowing they continue to provide loans so that they can charge lots of interests. Stay away from Sallie Mae

loserscrewed

USA

I would tell any hardworking college student in need of money to stay away from sallie Mae I have had nothing but hard times with them. From getting the loan to trying to get them to send me a bill in mail to pay the loan and after that I get charged late fees because I never got my bill and no one will talk to me when u try to get answers save if possible get loan anywhere else

Daltonlagoy

USA

I am currently repaying my student loans and thankfully they have the IBR(Income Based repayment) plan where you are able to get lower payments. With this plan I am able to get a lower payment where it is easier to make the payments. I am hoping after 10 years of payments I am able to stop making payments.

LaTrendaNicholson

USA

Salliemae is easy to get but really hard to pay off! They are expecting me top pay over $12,000 dollars not including the other years I have been paying. Its taking me 7 years to pay this loan off and the interest is STILL going up! I do not like this ONE bit! I wouldn't recommend this company to anyone at all!!

symekayla93

USA

They messed up my record and as a result, my credit score was dropped dramatically. They fixed the problem eventually, but when I asked them to help file a disbute w/ the credit company, they refused to do so. I made 10+ phone calls with them and they are just terrible!

MattKXie

USA

I am not going to comment on their high interest rates because I agreed to them. They didn't put a gun to my head to make me take them. What I will say is that they have the worst customer service and their business practices are a bit unethical. I use direct deposit and pay higher than my minimum. I want to get the loan paid off as fast as possible. Every 6 months or so they lower my direct deposit amount without my approval. I'm guessing they think I won't notice and they will gain the extra interest revenue. I notice every time and when I ask them to raise my direct deposit amount every time. So I have to keep on top of every payment when it should be a simple direct deposit transaction. Lately, when I ask them to raise my direct deposit they comply, but the day before my payment is due they lower my direct deposit again. I cant do anything about it and they end up getting more revenue. This is the most underhanded thing I've seen from a loan company. Viciously lowering my payments when I have no control to stop them. When I try to send them an email to complain, I get no response. I've sent 2 emails so far and no response. Even though every other time I've sent an email I get a response within 2 days. They are a fine company when everything is going right, but when you have a problem they are no where to be found.

jeepersmr

USA