Report: #390003

Report: Sallie Mae Student Loan

Category: Colleges and Universities

Sallie Mae Student Loan Mis lead us about a student loan my husband got for our son. Wilkes Barre Pennsylvania

...Parent Plus Loan

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Sallie Mae Student Loan

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Wilkes Barre, Pennsylvania
U.S.A.

Submitted: Tuesday, November 11, 2008

Last posting: Tuesday, December 09, 2008

Wind Gap, Pennsylvania

To whom it may concern. We are at our whits end.. My husband co-signed a loan for our son to go to college. We were told that as long as he stayed in college he would not have to make payments on the loan. Not even 6 months after he started college he got a letter in the mail stating that his payments would start soon.. We were shocked. I called Sallie Mae and was told that yes the payments would not have to be made as long as the borrower was still in school.. They said the borrower was my husband, not my son.. We feel so mis-lead.. My son was so upset by this, knowing he did not have a good job yet to pay this.. He just stopped college.. He did not want to add yet another loan for more college that they would make him pay..We even tried calling them and had the college contact them.. No satisfaction.. They just kept on telling us that it was my hubby that had to be in college not my son.. This is such a scam!!! Now they are threatening to garnish my husbands wages and take our income tax returns..

This is hurting our whole family.. I was diagnosed with Multiple Sclerosis in 1994.. I am not to be under stress like this.. We do not know what to do..

Shelly
Wind Gap, Pennsylvania
U.S.A.

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Really balled up Lenny [11/11/2008]
Parent Plus Loan Ripped_off007 [12/9/2008]

Submitted: Tuesday, November 11, 2008

Posted: Tuesday, November 11, 2008

Lenny

Houston
U.S.A.

Really balled up

Something is really balled up. First, see if you can talk to someone higher than who you were dealing with at Sallie Mae, see if you can get the school financial person involved. Second, have your son get a loan on his own and get back in school, he won't have to pay it back until he is out of school.

Submitted: Tuesday, December 09, 2008

Posted: Tuesday, December 09, 2008

Ripped_off007

Las Vegas
U.S.A.

Parent Plus Loan

Sounds like you applied for a loan called a Parent Plus Loan. This type of loan is a loan the parent takes out for their child to go to college. You are not a cosigner you are the borrower. Your son may be on the loan but the loan is not in his name. It is yours.

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