• Report: #1051953

Complaint Review: Sallie Mae

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  • Submitted: Sat, May 18, 2013
  • Updated: Sat, May 18, 2013

  • Reported By: swimneday — Rexburg Idaho
Sallie Mae
PO Box 9500 Wilkes-Barre, Pennsylvania USA

Sallie Mae Even being on food stamps doesn't qualify for a deferment Wilkes-Barre Pennsylvania

*Consumer Comment: Education

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I ended up with a private student loan through Sallie Mae after graduating from college. At the time that I was getting my loans, I just signed whatever my financial aid office gave me; I didn't understand what anything meant. I was having no problem paying back my loans for a few years after graduation but I now have a 4 month old baby and don't work. I live off food stamps and my husbands loans to pay rent. He goes to school full-time and works part time to help us pay our rent. He understands loans better so we are careful about what loans we take out. We do not have any month left over to pay $50 a month. I sent in paperwork for 3 months and they kept denying me but never explaining why. When I finally called to figure out what the heck was going on, the lady told me pay the balance due or pay $50 for a forebearance that would last 3 months. Apparently this loan has no option for a deferment or forebearance unless I am in school, residency, or military. What about financial hardship? I can't control the economy so how is it that Sallie Mae is allowed to give out this kind of loan to students? If I had understood what the loan was, I would have never gotten it.


This report was posted on Ripoff Report on 05/18/2013 12:31 PM and is a permanent record located here: http://www.ripoffreport.com/r/Sallie-Mae/Wilkes-Barre-Pennsylvania-18773-9500/Sallie-Mae-Even-being-on-food-stamps-doesnt-qualify-for-a-deferment-Wilkes-Barre-Pennsy-1051953. 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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#1 Consumer Comment

Education

AUTHOR: Robert - ()

 Education is a wonderful thing..too bad you and your husband don't take advantage of it. 

Apparently this loan has no option for a deferment or forebearance unless I am in school, residency, or military. What about financial hardship?

- No..they do have an option for forebearance.  You just didn't like the option they gave you.  Oh and if you can't even come up with $50, you have bigger issues and trying to pay back a student loan should be the least of your concerns.  Of course you could always look around and see what you can do to scrimp and save.  I bet you have(or do) one or more of the following.. Cable TV, Internet,  Eat Out, Cell Phone.  If you cut out even one of those things I bet you could come up with the $50/month.

If I had understood what the loan was, I would have never gotten it.

- Really?  Then perhaps  you can explain why you are basically currently living off of the Student Loans your Husband is getting?  Do you honestly think that those loans are any different?  Do you honestly think that if you have additional "Financial Hardship" that the other lender will just say "oh well" and not try to collect the payment after he is out of school and his deferrment is over?  Or is this a case where your husband is just going to stay in school for the next 40 years?

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