- Report: #176713
Report - Rebuttal - Arbitrate
Complaint Review: SLM Corp. Sallie Mae
SLM Corp. Sallie Mae12061 Bluemont Way Reston, Virginia U.S.A.
SLM Corp. Sallie Mae fraudulent billing on Sallie Mae student loans Ripoff Reston Virginia
*Consumer Comment: What type of loan?
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The loan is a ten year (120 payments) loan and 85 payments have been made to date, leaving 35 more payments due.
However, I discovered that Sallie Mae says we still owe 38 payments because 3 of the payments were made during what they call "forbearance" periods during which no payments are required (and about which we were never notified). During several email and phone conversations, they repeated tell me that their policy is that the payments we made during these 3 unknown-to- us "forbearance" periods (and which payments they accepted and cashed he checks) don't count toward our account and we owe 38 more payments ( 3 additional)!!
I can only assume they're quietly following this policy on many of their 7 million student loans, so they're fraudulently adding hundreds of millions of dollars in additional payments to their customers loans.
Sounds like a great basis for a class action suit against the arrogant and thieving Miss Sallie Mae.
This report was posted on Ripoff Report on 02/17/2006 09:46 AM and is a permanent record located here: http://www.ripoffreport.com/r/SLM-Corp-Sallie-Mae/Reston-Virginia-20190/SLM-Corp-Sallie-Mae-fraudulent-billing-on-Sallie-Mae-student-loans-Ripoff-Reston-Virginia-176713. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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