NYDrew
New member
I little public service announcement. I know a lot of you have kids so I wanted to put this out there, if the only way I can fight evil is to let other people know then so be it.
Student loans were great when the government ran them. Then they passed off management to the private sector during my senior year. We selected Sallie Mae to manage my loans....BIG MISTAKE.
If you read the papers circa 2007, you will remember Sallie was involved in some sort of scandal. The details are, they would bill you, send a promisary note to the school and then charge you interest. That was all fine and dandy except they didn't realize many of their clients lived off campus and needed the refund portion to pay rent. So here I am no loan money but being charged interest. I had to have a lawyer call them to have the money distributed 60 days late...but they did s*** themselves when they heard from a lawyer more powerful then their own (I have lawyer friends and relatives) and fixed it in days.
Not long after, the government interceded in this intentional scam and ordered Sallie to pay back all the interest as well as pretty hefty penalties directly to their clients accounts. Because I got my money already, I wasn't privileged to get most of this money...but what they were ordered to reimburse me I never saw.
Now, when ever they feel like it they play games with your online account. At least once a year my password randomly changes, or this time my user name. Have you these are written down, its not my memory screwing up. I think this is another Sallie Mae scam to get late fees out of otherwise prompt paying people (why not collect the $5 from both the scum bags and the good people).
IN SUMMARY, if you have kids going to college, or if you yourself are going soon....AVOID SALLIE MAE. ACS is the holder of 90% of my loans and they are so much better. So polite and honest to deal with. They even tell you if you are eligible for reductions or re-consolidations. I may be stuck paying these idiots back but perhaps if the world knew, no one else would ever get hurt by them.
Student loans were great when the government ran them. Then they passed off management to the private sector during my senior year. We selected Sallie Mae to manage my loans....BIG MISTAKE.
If you read the papers circa 2007, you will remember Sallie was involved in some sort of scandal. The details are, they would bill you, send a promisary note to the school and then charge you interest. That was all fine and dandy except they didn't realize many of their clients lived off campus and needed the refund portion to pay rent. So here I am no loan money but being charged interest. I had to have a lawyer call them to have the money distributed 60 days late...but they did s*** themselves when they heard from a lawyer more powerful then their own (I have lawyer friends and relatives) and fixed it in days.
Not long after, the government interceded in this intentional scam and ordered Sallie to pay back all the interest as well as pretty hefty penalties directly to their clients accounts. Because I got my money already, I wasn't privileged to get most of this money...but what they were ordered to reimburse me I never saw.
Now, when ever they feel like it they play games with your online account. At least once a year my password randomly changes, or this time my user name. Have you these are written down, its not my memory screwing up. I think this is another Sallie Mae scam to get late fees out of otherwise prompt paying people (why not collect the $5 from both the scum bags and the good people).
IN SUMMARY, if you have kids going to college, or if you yourself are going soon....AVOID SALLIE MAE. ACS is the holder of 90% of my loans and they are so much better. So polite and honest to deal with. They even tell you if you are eligible for reductions or re-consolidations. I may be stuck paying these idiots back but perhaps if the world knew, no one else would ever get hurt by them.
