Sallie Mae Student Loan Rip-off New Jersey Internet

to the gentleman w/ the origonal complaint. Youre suprised that your loan incresed that much in size after not paying on it for 15 years???? if you defer your loan, (unless its a fed. subsidized loan) you are always responsible for the interest. If you postpone your payments for 15 years and never make a payment, guess what, 15 years of interest capitalize on your balance, doesn't sound too out of the ordinary to me. One thing you may be able to do to help your situation is maybe try to consolidate the dang thing. it'll probably lengthen your repayment term, but you could probably lock in a lower fixed interest rate.

If everyone stops dealing with Sallie Mae the overpriced career schools will no longer get their kick back and Sallie Mae will have to go under.

They are a rip off loan company similar to pay day loans at ACE Check Cashiers.

I applied for a loan from them because the school I wanted to attend was a specialty school and did not have other finanacing alternatives. When my paperwork on payback came in, I laughed at the school director and told him that Sallie Mae was insane.

All I wanted to borrow was 5,990. The wanted to charge me 11,256 as payback. I called an cancelled the loan and was able to take out a personal loan from my bank, gave the school the cash, and will only have to pay it back for 4 years.

If a person is able to get alternative financing, take that instead, or try if possible to switch schools and go to one that does not require one to take out the loans through Sallie Mae, TRY TO AVOID THEM AT ALL COST!