Important information
- Customer Complaint:Due to the volume of complaints filed against this business, BBB only publishes the details for 15% of the total complaints filed.
Complaints
This profile includes complaints for Sallie Mae's headquarters and its corporate-owned locations. To view all corporate locations, see
Customer Complaints Summary
- 501 total complaints in the last 3 years.
- 156 complaints closed in the last 12 months.
If you've experienced an issue
Submit a ComplaintThe complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.
Initial Complaint
Date:11/21/2022
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I used Sallie Mae for a student loan in 2017. The school GCU told Sallie Mae how much I would need to finish the program about $3500, Sallie Mae raised the loan amount without my consent to $7500. I have been paying on this loan for 6 years and I still owe the same amount as I did when the loan was taken out 6 years ago $7300. Sallie Mae have not explained this to me. Every time I make a payment on the loan Sallie Mae adds accrued interest on the loan twice. My next move is to get a lawyer because I don't know what else to do. Sallie Mae has no intension on ever letting me pay this loan off. I am an educator an can not pay loads of money into this loan each month. I need some relief from this stress. I feel that Sallie Mae is doing something illegal with my loan which is causing me a great deal of pain and suffering.
Business Response
Date: 11/23/2022
Thank
you for your message. A representative from our office has contacted the
customer and addressed their concerns. Regards, the Office of the Customer
Advocate.Customer Answer
Date: 11/29/2022
Better Business Bureau:
I have reviewed the response made by the business in reference to my complaint and have determined that this does not resolve my issue. For your reference, details of the offer I reviewed appear below.
**In order for the bureau to continue to assist you, you MUST provide your view on the matter or your complaint will be closed as answered.
Regards,
Complaint ID: 18444737 I received a call from *********, she explained that Sallie Mae is a private loan and that I should consider a grant or scholarship next time. The loan has a high interest rate and that is why interest is being applied to my loan twice a month. I was also informed by ********* that this loan could keep growing past the amount the amount that was borrowed if payments can not be made. I was told by ********* that there is nothing Sallie Mae can do to adjust my current payment and that all the previous payments that were made weren't enough to go towards the principal of the loan which is why the $7500 loan that was taken out six(6) years ago still has a balance of $7200. I asked ********* what would be my current pay off, she gave me the total of $7251.92. After the conversation with ********* was finished on 11/22/2022, apparently she submitted the entire payment amount of $7251.92 to my bank account causing me to receive an Insufficient Funds notice from my Wells Fargo Bank on 11/25/2022. I clearly did not authorize that payment, the bank sent it back and ********* was notified and said she would follow up to see that the payment does not try to clear my bank again. I am still very dissatisfied of having made payments to Sallie Mae for 6 years and the loan does not seem to be decreasing.
Business Response
Date: 12/09/2022
Thank
you for your message. A representative from our office has contacted the
customer and addressed their concerns. Regards, the Office of the Customer
Advocate.Initial Complaint
Date:09/06/2022
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
This company uses predatory practices. This company has horrible customer service and refuses to work with those who are in desperate need of help and are unable to make a loan payment. Currently my loans are set at a unreasonable interest rate which is currently sitting at 11 percent. I am a teacher and $950 a month is unrealistic and unjust. This company refuses to lower my monthly payment and work with me to come with a resolution.Business Response
Date: 09/08/2022
Thank
you for your message. A representative from our office has contacted the
customer and addressed their concerns. Regards, the Office of the Customer
Advocate.Initial Complaint
Date:08/22/2022
Type:Status:ResolvedMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
Sallie Mae been calling me every day even on Sundays trying to collect and I have told them I am unemployed at this time. They are not trying to work with me for some type of resolution. They claim they have nothing I qualify for to help me!
They are threatening to garnish my wages when I do start working but they are Not trying to work with me! They do not care about the consumer. I would not recommend using Sallie Mae for nothing!Business Response
Date: 09/01/2022
Thank
you for your message. A representative from our office has contacted the
customer and addressed their concerns. Regards, the Office of the Customer
Advocate.Customer Answer
Date: 09/12/2022
Better Business Bureau:
I have reviewed the response made by the business in reference to my complaint and find that this resolution is satisfactory to me.
Regards,Complaint ID: 17755227
Initial Complaint
Date:08/22/2022
Type:Status:ResolvedMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I am constantly seeing my interest rate go up and those were not the original terms of my loan. It appears they are being predatory, and I will never pay this loan off if the rates keep going up. How it jumps back and forth 6, to 9, then 10 and now almost 12. That makes no sense in an inflation crisis.Business Response
Date: 08/26/2022
Thank
you for your message. In the interest of protecting the privacy of our
customers, we responded directly to the customer via the U.S. Postal Service.
Please allow sufficient time for postal delivery. Regards, the Office of
the Customer Advocate.Customer Answer
Date: 09/01/2022
Better Business Bureau:
I have reviewed the response made by the business in reference to my complaint and find that this resolution is satisfactory to me.
Regards,Complaint ID: 17750212
BBB Business Profiles may not be reproduced for sales or promotional purposes.
BBB Business Profiles are provided solely to assist you in exercising your own best judgment. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles.
When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.
BBB Business Profiles generally cover a three-year reporting period, except for customer reviews. Customer reviews posted prior to July 5, 2024, will no longer be published when they reach three years from their submission date. Customer reviews posted on/after July 5, 2024, will be published indefinitely unless otherwise voluntarily retracted by the user who submitted the content, or BBB no longer believes the review is authentic. BBB Business Profiles are subject to change at any time. If you choose to do business with this company, please let them know that you checked their record with BBB.
As a matter of policy, BBB does not endorse any product, service or business. Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation. BBB charges a fee for BBB Accreditation. This fee supports BBB's efforts to fulfill its mission of advancing marketplace trust.