So here is my story.
We will start with my story 4 years ago, that's when I started college. Of course like the majority of us we need loans, so I went with the infamous sallie mae. When I called I asked about all the available loan types and I was told to go with the parent plus loan, which has low interest rates because my parents have good credit. I was also told that I wouldn't have to pay anything until I graduate, so I decided to go through with this. I filled out the forms online instead of my parents because they don't understand the language well. Being excited about college I skimmed through the massive pages of the promissory note, which was a big mistake.
A few months passed and I received a letter in the mail claiming that I am late on my payments. I was blatantly lied too when I signed up. So I called sallie mae and they refused to do anything; they said that I signed the promissory note and there's nothing they can do. So we were stuck with those payments.
The next year I made sure I knew what I was signing up for, so I applied for a student signature loan from sallie mae. Finally I graduated and I didn't have to worry about my loans until 6 months after.
The 6th month approached and I called to apply for a forbearance/deferment. I was told that my loans would be put on hold for a year, which was good news because I was unemployed at the time and I still am currently unemployed. The lady explained to me that I have 9 loans and each loan would cost $50 to apply for forbearance/deferment but will not exceed $150. I paid the fee and 3 months later I get contacted that I owe money again.
So today, I called sallie mae and I explained to them what I was told. He says to me that they don't have any information that I paid so I would have to apply. We were going back and forth and I felt that what I had to say was falling upon deaf ears. He tells me that I would have to apply again, to which I explained to him that I already paid. He then tells me that there is no fee for the forbearance, that we can just take care of that over the phone. So he goes ahead and applies for the forbearance. Then he says that there is a fee. At this point I was confused, furious and fed up with this person. First he tells me that there is no fee, then he tells me that there is one. WTF!!!
He then goes on and explains that with federal loans there is no fee, but the private loans have a fee and its only good for 3 months. Again I was blatantly lied to. They took my $150 and told me the forbearance/deferment was good for a year.
I asked to speak to a supervisor and was put on hold. 5 mins later the same guy comes on and changes his name saying he is the supervisor. Come on, at least put on a different voice. I explained to him the same scenario and he asked me when did I pay the fee. Why is he asking me this, can't they look it up on their system? That's what I told him, and he says "I am only asking because you said you paid in November when we see a payment in October." Again WTF, why couldn't he just tell me straight out, that it was October and not November. So then I said that "You guys are complete scammers, something has to be done to rectify this." He said that I would have to just pay the fee of $150 to get another 3 months.
Why would I pay $150 every 3 months when I could just put that towards the loan? On sallie mae's site it says that you are limited to the number of times you can do this. So I said to him "So wait let me get this straight, you're telling me I can apply for a forbearance every 3 months for as long as I want," His shocking answer is "Yes." I told him, "If I knew that this was only for 3 months I would have not applied, I would have just put that money towards the loan."
At the end of the conversation I told him that I was going to get the news involved and I hung up. Sallie mae is a bunch of scam artists and liars. DO NOT get involved with sallie mae; they will lie and rip you off. Get your loans elsewhere.
If you have a similar issue or an issue with sallie mae, don't hesitate to post it here. I will be calling again and telling them about this post. I will also be recording the conversation and prove to all that they are scammers and liars; as if you don’t already know.