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Sallie Mae

United States,

Consumer complaints and reviews about Sallie Mae

katiefujii Send email
Mar 9, 2014

Not receiving 1098E for taxes

We have been in contact with Sallie Mae for almost two months now to get the forms for our tax preparer and giving the government information on interest paid for student loan for son. We get the run around, no 1098E to file for the taxes and ever time we call they say we will get it thru e-mail (haven't yet in almost 2 months) or they will mail it to our home address. Still nothing. Why can't the federal government shut them down, destroy them or wipe them out?
Fallenmidnightstar Send email
Feb 23, 2012

Sallie Mae

For the last Year I have had nothing but problems with Sallie Mae. A year ago I filed my taxes and was supposed to get $5061. On February 11, 2011 I received a letter from the Department of the Treasury Stating that Sallie got all $5, 061 of my taxes. A few moths later I received a letter from Sallie Mae Stating that I owe them 11, 199 that I have not made one payment to them. I wrote letter after letter Stating that they got all of my tax return so why wont they accept that as a payment. I get another letter from them stating that I have never made a payment to them which is a lie I got the letter from the IRS stating they did so I to BBB and made a complaint against them. They finally called me back and I received a letter from Sallie Mae Stating they would not take my taxes anymore because they are going to look into it which is a lie. This year I filed my taxes I was supposed to get $2, 019. Well that did not Happened I got another letter from the IRS Stating that all $2, 019 will be going to Sallie Mae. So they got a total of $7, 080. I want to know why they can keep taking my money and then turn around stating They have never received a payment. Why do they have the right to keep sending me a bill when they got their money? This is not right! Either someone is a thief and taking the money for themselves or they are trying to rip me off. What am I supposed to do live the rest of my life while Sallie Mae takes my Taxes every year for the rest of my life? It has been a year this has been going on and it continues to go on. This should have already been resolved yet I am still sitting here waiting and they keep bullying me and trying to get money from me that they already got. I am asking anyone and everyone to please help me with this, I am afraid Sallie Mae is trying to rip me off and still my money.
Your Mom Knows Best Send email
Feb 23, 2012

Sallie Mae

It's called garnishing and is done when you fail to pay your debts on time.
TelemarketingHell Send email
Feb 23, 2012

Scams, scams and more scams

My guess is they extended your loan in order to squeeze more interest out of you. That's where a decent chunk of your monthly payment goes - the interest. That's why you never see your balance get too low - you pay some of the interest, but when it accrues at a rate of $20 or so a day, your balance is the same every month. You are basically forever stuck feeding them money for a balance that will never ever go down, and unfortunately you can't pay the actual loan only - it goes to interest first and the actual owed amount second. So when you seem like you're putting a dent in what you owe, Sallie Mae has to do something so they can score a few more bucks from you.

I'm gonna be blunt - they suck. They suck hard. They are loan sharks and once they have their claws in you, they will never leave you alone. You can tell them until you're blue in the face your reasons for being unable to pay them and they simply do not care. Then when you can't pay, they ruin your credit, drain your bank accounts and call you repeatedly to try and threaten money out of you. When I was repaying them, my monthly bill almost doubled in less than a year. I guess I'm just supposed to go out to the free money store to get the bucks to pay them their $600 a month and never ever see my balance go down.

And the worst part is you can't sue them for their crappy behavior - they are damn near untouchable. But I will say while they will threaten up and down to take your stuff and sue you, I have never personally heard of them actually going and doing that. I think those are idle threats. Best of luck to you - I hope they are more bearable for you than they are for most.
Send email
Feb 23, 2012

Scams, scams and more scams

I have done nothing but battle with SM for over 3 years now. Here is the latest - I have been overpaying my loans every single month. I called in to ask why the due date at the end of the loan never came up, or why the monthly payment never went down - since I was overpaying. I was told it would be looked into. Next thing I know, I get a letter from SM and they lowered my monthly payment by extending my loan 18 months!!! I did not give written consent to this! I was furious, so I called back and demanded that my loan go back to what it originally was (same payment, same payoff due date). So yesterday I received the new billing - it now has the original payoff date, but has gone up almost $100 per month! Either I am getting scammed or someone cannot add. I have had it with Sallie Mae and am planning on turning them into the BBB soon. I would strongly urge you to NOT finance anything though Sallie Mae - there is no customer service, or at least none in English, and they are unhelpful as they screw you over.
Emmee Send email
Feb 23, 2012

Scams, scams and more scams

I agree, I kept getting harassing letters and I have automatic pay. I called and they couldn't find my account. I was ridiculous and they are charging me ridiculous amounts of interest wth?!!! this is why once you get your degree you cant do much because now ur busting your chops trying to pay back all the INTEREST that they decide to pile on. I hate Sallie Mae

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