Sallie Mae Student Loans Knowledge Base
Any way to reduce payments on Sallie Mae student loans? I have a friend who took out about $80,000 in private loans from Sallie Mae. She did not understand at the time that these loans would have an extremely high interest rate - it is now at about 18%, which means they are asking for $3,000 per month! She has been deferring her payments for the last year because she does not have enough income to pay this amount. Is there any way she can reduce this payment? Has anyone sued these guys for fraud? It seems like such a scam. Thanks in advance.
How can I negotiate my sallie mae student loans? I would like to pay off the entire loan at once, but its a large amount. I have been making monthly payments for the past 9 years and interest is still being added to the original loan amount. My total loan is now $80,000. Is there anyway I can negotiate with sallie mae to see if they except $40,000 or $ 50,000 as full and final payment?
SALLIE MAE. Can anybody tell me about an experience with Sallie Mae Student Loans? My daughter took out a loan from the college she was going to attend and they sold it to Sallie Mae. She had to quit college and now they are after her like the Mafia to get almost twice as much money as when the loan started out. She barely makes enough to live on, and cannot afford to pay the huge payments they are demanding. Are they really unreasonable or is she not telling me something?
Anyone know anything about Sallie Mae student loans? I just filled out an application with Sallie Mae. I have one charge off on my credit in the amount of $300, but my cosigner has good credit.. his score is about 703. Im just nervous I won't get the loan what do you think my chances are?
Help on Sallie Mae student loans? Hi, I'm looking to get a loan on sallie mae. Could anyone help me out on the basics of getting a private student loan? here are some few questions i have. When I take out a loan, will I be applying for a specific amount I need? What if i ever get a random scholarship money? can I adjust the money I borrowed? and what's better between these two sallie mae loans? https://www.salliemae.com/student-loans/ fixed repayment or interest repayment loans. looking on getting a $14,000 loan
What to do with Sallie Mae student loans? I just recently graduate, I have about 70k in Sallie Mae loans and about 25k in interest so far. My monthly payment will be 1013. I can afford this, but would like to lower my monthly payments to have some more wiggle room in my budget. Sallie Mae does not offer student loan consolidation, and any questions I've asked of them are never answered, they just try to sell me on the 'interest only payments' options instead of helping me figure out how to pay off my entire school bill with a lower monthly payment. I work in the telecommunications industry and got a great job with a starting salary of 55k. My rent is 1200 a month, including utilities. I have to pay my credit card bill with a minimum of $500 a month so I can pay it off in 14 months (if I don't use it.) Any financial advisors out there? Please help!
consolidating 160k private sallie mae student loans? I borrowed a small fraction of 160k and was shocked when I realized I have to pay back 3 times what I borrowed. My mom is the cosigner so it's not like I can just default. I hear sallie mae is bad at letting people consolidate loans. I'm hoping that someone has had this experience and can tell me what I can do to lessen the blow. I can't afford my monthly payments. Yohata, you have been reported for spamming.
Do you need to have a cosigner for sallie mae student loans? im 17 but when i turn 18 i plan to take out student loans in my name cuz financial aid wont cover my whole tuition, my mom was supposed to get a loan form me but due to her bad credit and over 40k in student loans and my dad is unwilling to help me bcuz im not going for a "proper major" like law or anything. Im going for Fashion Merchandising. So anywho my friend told me about the sallie mae loans and I check it out and it said saomething about a cosigner so do i still need one. btw i have no job yet.
Student Loans from Sallie Mae and payment? I got a payment plans from Student loans Sallie Mae with details. Basically, I am owned about $14,000 in principal balance and $8,000 for just interested alone. The payment to be made in 173 payments in amount of $134. My question is what if I pay off $14,000 right now. Would I still be responsible for $8,000 or any interest at all? Thanks
Deferring Sallie Mae private student loans? I received a letter stating that I will be required to start paying back my sallie mae private student loans at the end of Nov. I took this semester off and that's why they're coming after me. I was planning on going back in January. Is there anyway that I can ask them to defer once I'm back in school?
I have a question about sallie mae student loans? So I'm going to use Sallie Mae, I know they send the check to the school, but I'm getting a little extra for a computer..so do they send the check to me? and how long does it take to receive it. I don't want your opinion on why i shouldn't get a loan, i don't care for your opinion about me getting a job, which i already have. Just please answer those 2 questions thanks!
How do you receive Sallie Mae student loans? I have received pretty much a full ride to the university I will be attending this fall, but the thing is my friends and I applied to a Private Housing Hall that is over our university "estimation" budget. My question is, if I take out a Sallie Mae loan does it come as a check, go directly to a bank account, or does it go to my school? I don't want them to create a big fuss of this, but I just wanted to know how I will receive their student loan. Thanks!
How does a Sallie Mae student loan work? I am eligible for a federal sub and unsub student loan but need more money. My federal loans have good rates and have forbearance eligibility, does Sallie Mae work the same? How much money can you get? I need 2000.00 for classes but would like more for living expenses. Once I graduate, can I get all loans consolidated?
Consolidating Sallie Mae student loans? I have a bunch of small loans under one account number that accumulated to $34,240.15 That's the exact amount I currently owe including interest and principle. My interest rate is 11% and that's a variable interest rate. My monthly payments are $462.19 which is too much for me to pay. I also have smaller loans from a few other companies but it all adds up with rent. So, is there anyway that I could consolidate these sallie mae loans and get a lower monthly payment and/or lower interest rate? I am on 15 year payback term. Perhaps a simple 30 year would be best. on their website it says due to the economy they're not offering the service...lovely.
Sallie Mae student loans? what is your opinion about Sallie Mae and their student loans? Is this a good choice for getting a loan for my son's first year of college?
Can I make a student loan payment to Sallie Mae by credit card? I've been paying my Sallie Mae student loans off via e-checks for a few years, but this month my wife asked me if I could pay with our Master Card, since we get some bonus perks by using our credit card. I don't see an option to pay by credit card when I log in to SallieMae, but is it possible to do this over the phone?
who are the executives for sallie mae student loans.? I need to have someone in the Sallie Mae office who is not in India send some decision making correspondence to my child's financial aid office. Can any one help me with key decision makers and policy makers at Sallie Mae and REAL CONTACT Info?
Sallie mae student loans? I'm attending North East Wisconsin Technical College this year and my financial aid is not going through, the only place I can find to give me a private loan is Sallie Mae. I already have a 30,000 dollar student loan through chase, so I know the interest rates will be high, I'm just wondering if it's any type of scam or if theyre a legitimate bank and everything thanks for any advice.
Sallie Mae Student Loans Offset my Tax Refund by mistake!! Now What? Yikes! I was in default earlier this year.. but am in good standing with my school loans now. On track! Sallie Mae accidentally offset ( took) my tax refund this year. I have called and they agreed to release funds in the form of a check they will mail to me. Anyone had this happen to them? My money was supposed to be direct deposited on April 1 ... now when will I possible get my money????
Understanding interest vs. principal w/ Sallie Mae student loans? I took four private student loans w/ Sallie Mae, the total of which came to around $50,000. I have been paying money on them for 4+ years now. My capitalized interest is (was?) around $5,500. My interest rate is at 3.25% and I was paying about $400/mo. for the first two years, $300/mo. for the previous two years. I have barely even dented my principal balance, so I don't know where the money has gone. Sallie Mae doesn't say anything about how much capitalized interest has been paid off... it just says how much goes toward the principal balance vs. interest each month. I also don't quite understand how Sallie Mae calculates the interest you owe on each loan each month. Do they calculate how much you owe in interest for the year and then spread it out over 12 months? If you can link me to some information (or simply answer) I would really appreciate it. Thank you.
Sallie Mae Loan student loans.. > <? I've been trying to look for student loans that best suits me. I'm in need of tuition money for next month and everyone seems to suggest sallie mae. I've noticed that a lot of the online applications ask employment info. I have been a full time student all my life and never worked because my mother wanted me to prioritize education. I really want to help my mom out and not have to pay so much for my tuition so hence the reason why I am applying for a loan. I can't seem to move on in the application without putting any employment information. I've researched here on yahoo answers and people say I don't need a job history but I still can't finish the application without it. Please help I am kind of new to this loan thing..just doing this to help my mom out. Thanks in advance and I am also not eligible for financial aid either for those who will suggest that.
How can i deal with these sallie mae student loans? I have some private student loans through sallie mae a total close to $140,000.00 they have gone into default and ive tried to contact them to try and come up with a solution for repayment but they want $1900 a month regardless....needless to say I have never had a job where i could even spare close to that amount of money per month me and my wife have 6 kids and I recently lost my job so what do I do to get this resolved...consolidation wouldnt help me since i still probably couldnt afford the payment and these guys dont seem to want to work with me on anything, i even offered $50 a month just to show im willing to try and they still told me no, anyone have any suggestions?
Any lenders that consolidate 5 different Sallie Mae student loans and a fixed rate 30yr loan on my condo? I would like to consolidate 5 different Sallie Mae student loans and a fixed rate 30yr loan on my condo INTO one 5yr loan. The intention is to get a decent rate and reduce overall interest paid by making larger payments for 60 months. I've ran the numbers and can afford the larger payments. I have more than enough home equity to finance the loan. A HELOC seems advantageous since the interest rate is fixed and not amortized and would help if I could pay the loan off early. But I'm not sure how high this interest rate would be compared to a typical amortized loan over 60 months. Does anyone know of a reputable lending institution that would allow this? Or does anyone have any other advice to accelerate these loans (possibly just make additional principal payments and leave the loans as they are??) I'm finding that many lending houses offer a minimum of 10yr terms. I did contact Countrywide. They do this type of consolidation, but not as low as 5yr terms. Their lowest tenure is 10yrs. I prefer to get all of this paid off in 5yrs instead of 10.
Does Sallie Mae for student loans make the check to you or the school? I was wondering because I needed to take about about 500 extra since im taking seven classes and the price of books is going to be extremly expensive. My parents are not helping me out so I need to come up the money on my own. Normally I go with astrive but they have been down for months now.
How can I consolidate all my Sallie Mae Loans? On my credit, I have a long list of my student loans (Sallie Mae Loans) that are all either $2000 or $1800 each. How can I consolidate then into one account for when I start paying on them? I would rather go through Sallie Mae directly then have some other company buying it, because I have a good interest rate with them. A link would be most helpful!
Question about Sallie Mae Student Loans? A woman I know has two horrible children who borrowed loans from Sallie Mae under her name. She never went to college. The first son took out loans when she wasn't even in the United States. She was living overseas and he illegally signed her name on the loans. She can prove that she wasn't here during this time. The second problem is that when she did finally come over here, her second daughter made her sign for another loan. She didn't know what she was signing (she trusted her daughter). This is a woman who doesn't speak much English and cannot write very well. Now her two kids have disappeared and Sallie Mae wants like $98,000. What are her options? What should she do? Mackenzie: Is that her only option? I doubt she can afford a lawyer.
question about sallie mae student loan? i need to find an appropriate student loan for beauty school, (it's private so i don't get any kind of federal financial aid) and i had some concerns. if i apply for a sallie mae loan, do i have to take it? or can i just see what my interest rate and payments would be first? based of my information.
Can I get a Sallie Mae student loan forgivien? My original student loan amount of $46,000 has blossomed into $146,000 over the past 15 years. I read that part of it can be forgiven by teaching underprivileged children. Are there any new programs or plans in the works for settling student loans?
Can we do something about these Sallie Mae student loans? My husband attended ITT Tech after high school for about 9 months. The financial advisor somehow tricked him into getting loans for all 4 years and doing it all at once. He was kicked out the 9 months later (long story) and now we are in a massive amount of debt because of these loans. Is there anything we can do? Since he was only at school for such a short period of time, why should we have to pay for the whole 4 years? He took out both private (Sallie Mae) and federal. We have the federal loans deferred, but the private loans went into serious default and we are making $400 a month payments on them which we can't really afford. Please help! Thank you so much for that information! Very helpful! I'm going to look into that asap!!
Sallie Mae Student Loans? I won't have to start paying my loans until I graduate, but I happen to have conscription waiting for me after as well. Can I delay my Loan payments due to military service if I took out a private loan?
consolidating private Sallie Mae student signature loans? My federal loans are all consolidated at about 3.5% ($27,000) with a minimum payment of about $150. This is ok, and i can handle it. what i am concerced about are my sallie mae student signature loans, they also total about $27,000. they were at about 10% interest. My parents co-signed for these ones. They consolidated the signatures loans into a line of credet on their house, but the interest rate is stil 8%! That is making my min payments more than $250 and all of it is going to interest! is there any way to get this interest and payment down to what is similair to my federal loans of the same amount? aprox. 3%? what is the best way to go about doing this? did i miss out on the best consolidating because my parents went a head and took out a line of credit? please help. IM GOING BROKE!!!!
Sallie Mae Students loans and them going under? I was wondering what happens to my loans if Sallie Mae goes under (like it looks like they might). I have $150,000 debt to them for attending Michigan Tech and was wondering if I get off of the hook or how that works. Thanks!
How far behind do you have to be on a Sallie Mae student loan for them to take your tax return? I am 3-4 months behind and have tried to pay them within the past month several times. Sallie Mae tells me my loan has been sold to the Department of Education and the Department of Education tells me they have no account info on me. I am wondering if they try to do this on purpose so they can take your entire tax return. I have also updated my phone # with them and have not gotten any collection calls from either....????
Sallie Mae Student Loans in the US? Can someone provide some data on the US's student loan balance? I'm looking for the total amount of US student loans outstanding in the US. I found this article but I am looking for an official site like nber.org or census.gov. Something with similar credibility to the sites I just gave. http://www.reuters.com/article/idUSTRE60K3VD20100121
How do the Sallie Mae student loans work? Hello, im applying to an art school and im gonna need to take out student loans. I have heard a lot about sallie mae, but how does it work? how many different types of loans do they have? how often do people qualify? Also my school is gonna be about $80,000, im pretty sure it wont cover all of that and can you apply for more than one loan per lender? Like, for my freshman i can apply for sallie mae but for my sophmore year can i apply with them again? Im just lost, any information will help me. I would love to hear other student experiences and what they have to tell me for advice as well!! tanks so much!!!
Does Sallie Mae offer student loans that you pay back after graduating? I only see like 2 options on their website, both smart option loans: 1.Fixed Payment (which I assume is monthly payments while in school....but not sure) 2.Interest Payments(which I assume are more expensive payments per month while in college) OR ARE THEY BOTH....PAID BACK MONTHLY, AFTER GRADUATING?
High high interest student loans (Sallie Mae)? When my fiancé was originally starting school fresh out of high school he attended a private art school which was funded by Sallie Mae loans little did he know when he signed his life away at 18 was that the loans were private not federal and so they now are accruing a whopping 10 percent interest which does not sound high but is unmanageable on loans of 40000. The problem is that we are both still in school without real careers and cannot pay more that 100 dollars a month on them which does not even cover interest at this point. I do not understand how the company can charge 20000 dollars of interest in 4 months if the lendee is still enrolled in school full time. Can someone please please help how we can pay this or get rid of it or lower or freeze interest somehow because it is ruining our future- thanks
Anyone know anything about the Sallie Mae student loan? I never taken out a student before because this is my first year in college and yeah I really need money to pay for this class. lf I take a loan out from Sallie Mae when will I get the money and do I need to have a job in order to take out a loan?
Can I consolidate my sallie mae loans after repayment begins? I have sallie mae private student loans that go into repayment at the end of this month..does anyone know if I'll be able to consolidate after repayment begins or do I have to do it before? My credit score will significantly increase next month so it would be great if I could pay the loans for a couple months and then consolidate for a lower monthly payment/interest rate. I can't seem to find this information on their website. All help is greatly appreciated. Thanks!
sallie mae student loans? I have no qualified co-signor and I have not established credit yet. My bill for my spring term must be paid by Jan. 8th. What can I do?
Help on Sallie Mae private student loans? Hi, I'm looking to get a loan on sallie mae. Could anyone help me out on the basics of getting a private student loan? here are some few questions i have. When I take out a loan, will I be applying for a specific amount I need? What if i ever get a random scholarship money? can I adjust the money I borrowed? and what's better between these two sallie mae loans? https://www.salliemae.com/student-loans/ fixed repayment or interest repayment loans. looking on getting a $14,000 loan Thanks.
default private student loans (sallie mae)? My friend has USD55k co-signed student loans. Due to unemployment, he was not able to make payment and the loans went into default. Since he does not reside in US, his co-signer does not believe his financial difficulties are real and thought he is just trying to evade the loans. He feels really bad for not being able to repay the loan and got his co-signers into trouble. He does want to repay the loan but without any income and insurance make things really hard to even get thu a day and I can tell he has been under severe depression. I really wanted to help him and posted questions here for your advice: 1) with borrower like him (not a green card holder / not residing in US currently), how can he deal with the situation (private student loans with sallie mae in default ) but still care very much to repay the loan and try to minimize the damage caused to his co-signer? 2) if I help him borrow enough money to repay the student loan, will his credit be improved very soon given the fact that he also has another USD20K +credit card debt? he is in the process of job interviewing and seems that he has a good chance to get a decent paying job after two years struggle and financial hardships; if he can get the job, he can definitely get back on his feet and have a fresh start. however, he is afraid background/credit check will affect the hiring decisions. Can anyone tell us a) is paying off the student loans a wise solution ? will it help improve his credit in a very short amt of time so he can pass the credit check for getting a job? (not that we don't care about the credit card debt, it is just too large amt to pay; I will have to try very hard to pool USD55k thu borrowing from banks, friends and relatives for him; the credit card debt with 4 different institutions might have been in the hands of collection agency and we don't have a clue what to do with collection agencies); b) is there any possibility that Sallie Mae is willing to let the student loan amt be reduced if we offer to pay to close the loan? my friend is a good /hard working person and it breaks my heart seeing him thu this. I am thankful for your adivce.
Do you think Sallie Mae private student loans are predatory? It seems to me there is something awfully slimy about Sallie Mae's private student loan business, but I'm open to new ideas about it... afterall noone twists students arms to get the loans...hehehe, its not like a college education is 'required' to get a good job anymore (sarcasm).
Advice about Sallie Mae private student loans? I've been looking into the possibility of borrowing a private Tuition Answer loan from Sallie Mae. The interest is pretty high, but it is my only option to have living expenses so I can make it through nursing school (my federal loans just cover tuition/books). I need help understanding these little other fees they mention ...like supplemental (i believe that's what it said) at 3% and origination. Does anyone have advice for me, about this type or similar type, of loan and little add ons I need to be aware of the could get costly?
I took out a Sallie Mae Student Loan for more than my tuition? I recently took out a Sallie Mae student loan to cover my tuition of $18,000 dollars. I took out an extra $4,000 for personal expenses during the year. What happens after they send my school the 18k for tuition? Do I 1. Get a check for the extra? 2. If so, is it from the school, or from sallie mae? 3. Or are they going to give the extra back to Sallie Mae and have it decreased from my loan? I need the damn money and I am paying it back anyway after graduation soo... What will happen? Dont say "Contact your financial aid office"...
STUDENT LOANS: Consolidating Fed. Loans with Sallie Mae Loans? I am currently paying too much for student loans! I just graduated college about a year ago and consolidated my federal student loans (subsudized and unsubsidized) with Brazos (referred by AES). What I would like to do is consolidate my fed. student loans with my student loan I received from Sallie Mae so that I only have one payment to make per month. Does anybody know of any companies that consolidate not only my Stafford loans but also my private loans? Even better would be a lower rate than I am paying now, but any advice will help!
Student Loans Through Sallie Mae? I attend Baker College in Michigan and I have student loans through Sallie Mae. My question is, how long does it take for you to receive your loan once it says its disbursed? Also, mine is still awaiting to be disbursed, but it says its disbursement date is 03/27/2009. Is there anyway to speed this up? I need the money asap and it would be a relief to know if there is something I could do. Thanks!
Sallie Mae Signature Student Loan? I have had a Signature Sallie Mae Loan for the past 3 years but now they have the new Student Plus loan, which I do not qualify for with my co-signer, I have heard that since I have had the Signature loan since the beginning of college I am grandfathered in to keep using the Signature loan does anyone know if this is true?
I thought consolidating student loans would erase the Sallie Mae loans....? I went through a company to consolidate my student loans. Currently, on my credit report, it shows I have about 10 Sallie Mae loans open. Once Sallie Mae is paid, will they delete the accounts from my credit report or will it still be on there and show as paid? Is there anyway I can get them off, because I don't want a whole lot of accounts shown on my report. I'm trying to buy a house and want my credit report to look good. Thanks in advance. I haven't started paying any of them, so they are all negative. This is why I need them removed.
Private Student loans ( Sallie Mae Signature), Can't pay? I have about 48,000 in signature loans from sallie mae. They have limited repayment options, and my forebearance limits are about to be reached, roughly 21 months in total available time, without going to school at least half time again. The last loan was taken in 2001. Once they come off forbearance in June, they will want over 1,000 dollars to get in line, and they want 380 per month after that. I can't pay this, don' t they have ICR plans? I have over 120k in fed loans, but they have plenty of forebearance left, with the option of a Ford direct loan and ICR. Guess I'll just have to let the private loans go, after all, they can't have their cake and eat it too....but who am I kidding, they do! In addition, I'm between 40 and 50 years of age, with no assest, no home etc...and have never had a start in life. Please save the comments about quite smoking or drinkin, or why did you borrow them, etc...what done is done, and it was done with good intentions, albeit alltruistic ones. I meant to say that I don't smoke or drink, or do anything extraneous., in response to Rocky F. Can they garnish wages if you don't have any one single job? I have as many 10 different jobs in a year, or do they just see the SS # and attach it, unless your getting paid off the books.
move my sallie mae student loan to somewhere else.? I'm having problem with Sallie Mae and their customer service. They are never updated and continously making errors and just makes me nervous because of their lack of knowledge. Where can I move my sallie mae student loan to? All the payment so far has been paid on time and everything is current but can not trust sallie mae anymore. Help~
sallie mae for student loans? i was just wondering if someone knows how sallie mae distributes their funds for the signature tuition loan for community colleges? do they send the funds to the college of your choice or do they send a check directly to you?
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