The Devil Wears a Nametag, and it Reads “Sallie Mae”
Over a year ago my wife and I decided to consolidate our federal loans in order to get a lower interest rate. The initial filing went well but then in the midst of our consolidation 3 of my wife’s federal loans were sold to Sallie Mae, who unfortunately also has my wife’s private loans.
This sale of our loans resulted in 3 loans not being included in the consolidation. We then filed a form to add on to our loan consolidation. This paper was filed OVER a year ago. Sallie Mae, refuses to note the receipt of several faxes and postal deliveries. In order to get these loans consolidated I have decided to launch new site, Sallie Mae’s Incompetence.
The site is a collection of my contacts with Sallie Mae, AES (my consolidating company), my congressman, and the state attorney general. I have also covered general student loan info as well as the many missteps and incompetence of Sallie Mae.
Please feel free to check out the site and check back often for more updates and the status of our loan consolidations. I would also appreciate it if you would share this with people you know who have the power to do anything about this situation. I would also recommend that you advise anyone you know to avoid Sallie Mae as a loan company.
Sample Posts:
- Sallie Mae Subsidiary linked to Aggressive Collection Habits
- Where for art though loan verification certificate
- How Much Do Sallie Mae Executives Make
- In The Beginning There Were Loans
PS. click an ad while you are there so I can pay off these blasted loans!
Josh Smith is a blogger, database manager and adjunct professor of business and technology. 
Okay, I’m not alone. I graduated in May and consolidated my loans with a company in NY and all is fine…until… TODAY I got a letter from the AES that Sallie Mae has consolidated my loans. Firstly I’ve never talked to a Sallie representative or signed any documents granting them permission to consolidate my loans. I’m an idiot when it comes to consolidating loans or financial issues. I’m very paranoid and I feel betrayed. I don’t understand how this can work. These are my freaking loans, don’t I have the right to choose which company I want to consolidate with? I don’t like Sallie Mae gosh darn it.
Lynda,
Unfortunately loan companies sell off loans to other companies. In my research I have found that all kinds of loan companies can do this. Good luck dealing with Sallie Mae.
:(. I’m a little distressed right now. It’s the weekend and I can’t do anything about Sallie Mae or the AES. I don’t get it. What is banana freaking hard about consolidating all my loans? For me, they left out 2,000 dollars. My payment schedule hasn’t started yet, but they keep calling me 3 times a day.
Is it possible to switch to a different lender once my loans are consolidated? It is possible, but I read that Sallie Mae holds hostage of your loans.
GRRR….Thanks for listening.
I am having a recurring nightmare with Sallie Mae. I feel for everyone that has to deal with them. My principal on my loan is up to $11,600.00, and I only borrowed $10,200 four years ago. When I’ve asked how that happens I’ve been hung up on. So I emailed one of their employees who handles loans. I asked him some genral questions about their loans. He responded to every email I sent UNITL I asked how my balance continues to go up on the loan I have with them. Never heard from him after that. I don’t know how they get away with their loan practices, but we need to stop it somehow. So, I’ve been paying for almost 4 years and I now owe $1400.00 more than I started out with. Go figure. What can be done about Sallie Mae?