Forum Post: School Loans - Sallie Mae
Posted 12 years ago on Oct. 20, 2011, 5:21 p.m. EST by a7467
(1)
from Lido Beach, NY
This content is user submitted and not an official statement
Called Sallie Mae to let them know that I would be unemployed and if they offered any deferments or forbarences for the unemployed....two options; Go back to school (didnt u just hear me, im unemployed! So how will I pay for this.....let me guess, take out another loan?) Six (6) month forberance ( the forberance costs depending on the amount of the loan, you will be charged a lower monthly fee for the duration of the forberance....(OK are you deaf! Im unemployed, cant pay the loan and your suggesting that I pay for a forberance?? God Help Us All!
I feel for you. Many people are in the same boat with you. The largest private student loan compay (you named it)- is very corrupt. They are predatory lenders that gave out loans at high interest rates, and now these loans ballooned- and a lot of people can't pay their loans.
Forbearance is another way for them to make more money from you. And, If you default, then they automatically charge you 25% of the loan, and put it on top, along w/ interest. How is that for unregulated? Something has to be done- this is an example of corporate greed and corruption.
Many people fell behind on their student loans due to underemployment, or unemployment- that spells trouble for the economy and the debt situation.
Form an Occupy movement where you live, and create a 'student debt' forum/group. Or, you can check out 'StudentLoanJustice.Com' (or it might be .org).
It's high time for us all to occupy sallie mae. Indentured servitude to a fallen economy should NEVER be requisite for a good education. Enough of this economic puppeteering!
Try again, sometimes you get a customer service rep that doesn't have the right answer.
Damn, it might depend on what kind of loan you have.
I have several different types of deferments and forebearances available and I can also go to "income sensitive repayment" and get my payments lowered if I need to.
Did you go to the website and look up the info yourself? If not, you should their CS reps are outsourced and not the greatest.
The best thing about the student loan thing is that none of these protesters who have student loans would have ever taken out the loan knowing they would not have a job to pay it back. They took out the loan because they thought they would have a BIG fat CORPORATE paycheck to pay it back with....hypocrites!
Were you born with a stamp on your ass that says, "Guaranteed success in America". No you have the chance to be successful. You have just failed and now you want someone else to pay for it. Suck it up.
You took the loan. Maybe for the money college costs you should have bouhgt a McDonalds. I suggest you complain to your liberal proffessors.