I had to fax them my SSN and they say it would take 3, 4 business days. They definitely have a 3 tier pedestal; of course, regular employees are the "lowest on the totem pole" Management & Upper Management are often catered to. Banking products include money market accounts, high yield savings accounts and CDs. Also, each location is like a different company. I have a 725 credit score. 7.What is the minimum and maximum loan amount you can borrow from Sallie Mae? Extra payment towards principal loan - While making extra payments of a loan, you are under a commitment not to pay down your principal balance first. They will never work with you as a new graduate to help you manage your loans. I do know something about finance and know that at the time the cost of capital to Sallie Mae would have been somewhere in the vicinity of 1 percent. A week before it was supposed to end I had a death in the family and had to pour my savings into going to the funeral out of state. Complete crooks and with crazy interest rates its really not worth it! The list ranks 500 midsize employers, across 25 different industries, that received the most recommendations. At Finder, we value and respect our editorial … This company is the biggest disgrace I have ever seen. Extremely discriminatory towards women with young children especially if your child has frequent health related issues, that requires time off. They are NOT looking out for your best interests. Sallie Mae Personal Loans are separately taken care of by one of the subsidiaries of SLM Corporation named Sallie Mae Bank. So, no, they do not provide the Income-Driven Prepayment. All my new lender wants is the payoff amount, borrower name, loan numbers and they will not email or fax to the new lender. I spoke with a supervisor, and please read this carefully, she told me I had to call Sallie Mae to tell someone in the accounting department to move a credit amount of $50.00 from an overpayment to satisfy a payment? Plus, you might be able to get your funds as soon as the next business day after approval. This company advertises very low interest rates but does not give these interest rates advertised. I opted to pay $100 a month while I was still attending school- that was 'supposed' to go towards my interest on the loan. Because I dropped out of the school and I’m unemployed. They keep calling 24-7 with nasty customer service animal. Sallie Mae also provides private student loans for those who plan to seek a Master's or Doctoral degree program. My co-signers are now getting harassed every day by phone and email. Lot of start and stop major initiatives and product ideas. Get suggested colleges and free counseling. they could give more raises and management is for management and not employees. Reviews for Sallie Mae student loans have some negative reviews which a lot of involves customer service, some customers say that when they sign up to get the loan payments automatically drafted from their bank account. The information provided is from their perspective. Sallie Mae not only sends me a bill showing that I am late on two months of payments but they have called the credit bureau. Sallie Mae is a predatory lender. Fast forward to post-graduation, I have a $900 monthly payment. Sallie Mae offers 3 different repayment options: a Deferred Repayment Option where the student makes no payments during school or pays as much as he or she prefers, a Fixed Repayment Option or an Interest Repayment Option where students make interest payments while in school so it doesn't accrue over time. I WILL BE CONTACTING AN AUDITOR and THE DISTRICT ATTORNEY WHO REPRESENTS MY LOCATION. A paycheck if you need one other than that no pros. All Sallie Mae cares about is making your payment no matter what you going through, they don’t care. It actually went up. The loan amount covers 100% of the cost incurred during the cost of attendance. We value your privacy. They are all separate payments. This detail of Sallie Mae consists of all the information on the loans from the interest rate, requirement, repayment options, customer service, and extra benefits given to the customer. Editorial Note: Forbes may earn a commission on … Sallie Mae Student Loan review Sallie Mae is one of the most popular and best options among student loan providers By Sophie Kaemmerle 24 September 2019. It offers competitive rates starting at 6.99% and no origination fee. Although, Sallie does not give away the information of minimum credit check to qualify. Provision of a full range of APR range fees and forbearance policies on websites. The interest rate is capped at 6% during the eligibility period of military service. The rating was last updated on 10/09/2020. The borrower needs to contact the military customer service representative team to get more information. There was no amortization schedule of other information provided. All they care about is getting your money. Phone # : 800-472-5543 / 877-346-2756 , I had another lender, Discover, that was a joy to deal with. Enjoy reading our tips and recommendations. It also seems to be difficult to get in touch with the company to change it. They said that they mailed it yesterday!! However, the monthly payment didn't shift my overall balance by a penny. I paid $50 and the loan went up. This doesn’t influence our evaluations or reviews. Loan holders also find the interest rate with the company and loan products high. This is a scam. What on earth is wrong with this company??? Sallie Mae's interest rate makes it nearly difficult to pay down with the regular payments. Sallie Mae personal loans are ideal for individuals who received an offer code in the mail and are looking for a no-frills application — you won’t be able to apply otherwise. So much for Sallie Mae never again will I do business with them and if anyone asks I will direct them to go with Suntrust. 3.Does Sallie Mae insist on having a cosigner while borrowing student loans? 100% of all of my payments will only be applied to the interest so even if I make payments, I will still have to pay all interest which NEVER stops accruing at a daily rate of ($5.11/per day). It could be because many of them have only completed high school. Updated: Oct 19, 2020, 12:20am. Please stay away from this lender. 5.Is having a student loan with Sallie Mae a good choice? My overall balance is still increasing. Their benefits are mentioned here. Sallie Mae's Student Loan Refinancing Rates and Terms, How to Contact Sallie Mae Customer Service, The Average Net Worth Of Millennials By Age, 529 Plans: The Ultimate Guide To College Savings Plans, The Definitive Guide To Student Loan Debt: Everything To Know About Your Loans, How to Start Saving Now: The College Graduate’s Guide to Saving for Retirement, Best Online Stock Brokers In 2020 (According To Readers), The Best Places To Open An HSA (Health Savings Account), The Best Investing Apps That Let You Invest For Free In 2020, The Top 10 Online Life Insurance Companies, The Ultimate Guide To Renters Insurance – Everything You Need To Know, The Cheapest Car Insurance For College Students, Private student loan lender with no application or origination fees, Some of the best rates available in the market, They offer one of the largest selection of loan types, They typically have some of the lowest rates available in the marketplace, They offer a variety of repayment options for private loans, They have a reputation for mixed customer service, They only offer private loans, which borrowers should only take advantage of in certain circumstances.

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