About

Sallie Mae is a student loan provider that is run in such a way that would inspire a person like me to dedicate some time in documenting what they are doing and how they are doing it. I get a bad taste in my mouth any time I have contact with this company and since I will be dealing with them for the foreseeable future I have no doubt they will continue to give me reason to come here and vent. I am not behind in my payments and the only time I have ever been behind is one of those simple I forgot or went on vacation (days not months).  Also in my dealings with them I have always had a credit score considered “good”  and yet I still have a interest rate of 13%+ (started @ 18%+).

I have read some of the horror stories out there of people getting a 60k+ education and only being able to get a minimum wage job. While I have no sympathy for people who don’t think things through I also shake my head at a system that allows Student loan companies to not have to do any risk assessment on people taking out loans for education that they will not be able to pay back essentially making them indentured servants for life as their loans skyrocket to 100’s of thousands of dollars (with uncle Sam acting as the collector) . This situation seems similar to the housing bubble but without the option of foreclosure or bankruptcy.

My hope is that people see this and avoid the Sallie Mae company and are smarter about their student loan selection than myself (even though I was back doored into Sallie Mae against my stated whishes when I consolidated). There are also may other sites like this so the sentiment is not isolated.

One Response to “About”

  1. Morgan says:
    July 27, 2009 at 7:07 pm

    I have experienced the same frustration and am at wits end. I am seriously considering contacting an attorney to rectify the situation. It’s amazing that they can get away with this and treat their customer like complete trash while doing it. Thank You for the site and at least I am not alone.

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