Sallie Mae Sucks Customer Reviews and Feedback
SLM Corporation (commonly known as Sallie Mae; originally the Student Loan Marketing Association) is a publicly-traded U.S. corporation that provides consumer banking. Its nature has changed dramatically since it was set up in 1973. At first, it was a government entity that serviced federal education loans. It then became private and started offering private student loans, although at one point it had a contract to service federal loans. The company's primary business is creating, servicing, and collecting private education loans. The company also provides college savings tools such as its Upromise Rewards business and online planning for college tools and resources. Sallie Mae previously originated federally guaranteed student loans originated under the Federal Family Education Loan Program (FFELP) and worked as a servicer and collector of federal student loans on behalf of the Department of Education.
Sallie Mae is terrible for students to get loans for their higher studies. There are many problems with this corporation. A few sucks of Sallie Mae are given as
1)No student loan is protected by bankruptcy—not private loans, not federal loans, none of them. If you attempt to discharge your loans in bankruptcy, there is a very high chance that your efforts will be unsuccessful.
2)Student loans that originate from Sallie Mae or Navient are not federal loans. They are private loans. Sallie Mae and Navient offer few to no options for repayment and do not offer any kind of income-based repayment plans
Besides these sucks, there are many authentic reviews on the internet which clearly explains their sucks
A disgruntled student says "I took out 3 different loans with Sallie Mae, not knowing the consequences of dealing with this company. They were charging me $650 a month when I made 30k a year, refusing to work with me until my 96 y.o. a cosigner, who made even less, died. Recently, they have taken out my payments 4 days before they're actually due, when I haven't gotten paid yet. I have called several times, and it was after the third time that they finally changed the due date that I requested. However, I was charged over $270 in 3 months of overdraft fees".
Another suck of Sallie Mae described by a student victim he says "Sallie Mae preys on families. They are greedy, don’t offer ANY sort of repayment options. At 18 my parents told me to sign the papers that if I didn’t I couldn’t go to college. So I signed them not knowing exactly what I was getting in to. Fast forward after two years of college I dropped out. Some of my loans were coming in and I was paying them. After 3 months I get a call from Sallie Mae telling me that I owed over $900 for past due payments and there will be another payment coming in 7 days totaling over $1200"
Current Employee - Collections Specialist says"You are just a number, not a person."
Former Employee - Claims says"Extremely discriminatory towards women with young children especially if your child has frequent health related issues, that requires time off. This seems to apply more so to non-exempt employees. 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."
Former Employee - Marketing says"Harassment, By, Management, And, Directors, PTSD"
Former Employee - Debt Collector says"Stressful. Cliquey. Goals were too high"
Current Employee - Marketing says"Once a place to collaborate with smart people, but now just a lot of super smart people hired for their expertise being told to shut up and execute what upper management wants. Constant restructuring under new CMO whose message of collaboration, authenticity, and transparency is directly contradicted by actions that speak of micromanagement, favoritism, and disrespect for the people who do the work. Employees feel unsafe and unvalued; a single error follows you forever. Failed Agile transformation adds to the chaos. Huge tech debt keeps growing due to short-term-win business strategy. No innovation is possible since the key factor in most decisions is fear. Newark office insulates itself and blames other offices for everything even though they’re the execs. We are frequently ordered to improve our culture, meaning learn to love disrespect and micromanagement."
Former Employee - Customer Service Representative says"Management was chaotic, treated ground-level employees like dirt. Little or no chance for advancement. Shifts could be changed at any moment without warning. Terrible salary. Turnover was very high. Most people quit after 3 years."
Current Employee - Anonymous Employee says"You will never advance internally. If you are in IT, stay away. Why do you think job postings are up for several months?"
Current Employee - Anonymous Employee says"The IT App Dev just went through org restructuring in order to rescue their failed Agile transition. The problem with this restructuring, they don't understand why Agile failed, never spoke to the people who actually deal with the day to day to understand why we are failing, and they moved people around without discussing what those people wants from their career."
Former Employee - Anonymous Employee says"The company doesnt care about its employees or borrowers"
Current Employee - Anonymous Employee says"It's a competitive, siloish environment which dissuades and blocks collaboration and communication. Every discipline is out for themselves. Nothing uniting us. Senior leadership in my department manages through intimidation, pitting fellow working employees against each other, and controlling what they communicate to our department head. The company chooses to not significantly invest in marketing or technology, yet they want to compete with newer financial companies."
aaa says"Horrible login experience, the process using firefox to log in if you haven\'t been on the site in a long time involves manually clearing the cache of all of their cookies and site data. Cannot close an account without talking to someone, and good luck wasting your day trying to get someone competent on the phone."
Collector (Former Employee) says"Would not recommend. Overall hard place to work. Stressful environment. Day to day back to back calls with little breaks. Working from home has been tough many times questions go unanswered in chat. Cons: Lie about your position, can barely get time off"
Sales/Customer Service Representative (Former Employee) says"The managers I worked for were very unprofessional a lot of dating each other and gossip it was like high school when the work place should be a safe environment without drama and always professional ethic but this was not the case working there and it wasn’t remote at the time. Idk about other Sallie offices but the one at teleperformance in psl was very unprofessional."
Collections Specialist (Former Employee) says"IF, you get hired, everyone on the phones in the call center might as well be monkeys. You say the SAME thing, from the same script, for 8-10 hours. Bathroom breaks are discouraged. Compensation is, well minimum wage, and yes there are contests to win trinkets. Not cash. The unit managers are supposed to listen in on your calls and then write you up; good OR bad."
Loan Specialist (Former Employee) says"Had the worst experience working at this company. I wouldn't recommend this company to anyone to be apart of. My job it self was great but working for this company was the worst mistake of my life."
Loan Modification Specialist (Current Employee) says"if you are girls and under 25 directors will love you and give you promotion with out any performance , too much favoritism , very very stressful environment they don't care about employees , Cons: short break micro management"
Call Center Customer Service Representative (Former Employee) says"I hated this job I was treated horrible the customers were rude when I was only doing my job I never gotten outta line with anyone regrauding my job I and they fired me because I was sick and had a doctors note didn't believe that"
Inbound Sales Specialist (Former Employee) says"While the company existed, it only hired seasonal employees who could potentially accept a permanent position if business needs deemed it necessary to grow the company. Cons: Company closed"
STUDENT LOAN COUNSELOR (Former Employee) says"There is very little, in the way of positive comments, that can be said for Sallie Mae. It was clear from the beginning that the employees are merely a means to an end, and there is very little care or concern with the well-being of employees. Cons: pay, benefits"
Unit Collection Manager of Recovery Operations (Former Employee) says"Had to work massive over time without getting paid over time. Job was threatened daily. Managers were bullies and threatening. The hardest part was getting people to pay their bills."
Student Assistance Corp. Collector (Former Employee) says"It's no wonder they changed their name to whatever it is now. Sallie Mae does not care about employees, much less their customers. I wouldn't recommend anyone work there. Cons: job itself, mgmt, pay"
Customer Service Rep/Call Center (Former Employee) says"don't know much about this company, can't even remember exactly all that happen with this company. And this company was not a part of sallie mae. debt collection agency"
Collections Specialist (Former Employee) says"Arriving, places to park were typically great distances from the building, which resulted in long walks to and from work in company parking lot. After checking in through security, a lengthy walk through a warehouse to one's desk is next. Employees strap on their headsets and begin the entourage of calls to bully customers into giving them money. Every month the goals to reach became higher and higher until it was impossible to achieve them, without miracles occurring or working over 100 hours per week. Cons: Everything about the job"
Borrower Counselor (Former Employee) says"Worked here for 6 years and business shut down as of Feb 2018. Enjoyed my first year working here and then it turned to an environment that has a lack of concern for its employees."
Collector I (Former Employee) says"I didn't like working here I was a stressful work environment. It made me in a bad mood after each shift. I would not recommend this job to anyone. -----"
Collection Specialist (Former Employee) says"Goals set too high to reach, stuck at your desk all day, cursed at by customers, consistently calling the same people, going all day and never speaking to someone on the phone"
Professional Collector (Former Employee) says"• Advising debtors of the possible consequences of non-payment."
Collector 1 (Former Employee) says"Management is horrible, staff is horrible, they do give paid time off but won't let you schedule any. Cons: everything imaginable"
STUDENT ASSISTANCE (Former Employee) says"overworked and underpaid long hours management not good hostile work place wont advise anyone to work there management is not good there at all dont care about the employees just about the big pay checks that they get Cons: long hour low pay"
Student Loan Processor (Former Employee) says"This was a temp position. Its constantly busy, there was no pay increase or change in position status. Benefits are not provided to temps. Busy, loud environment"
Private Student Loan Representative (Former Employee) says"Workday consists of dealing with angry customers. Managers do not communicate well with employees and unrealistic goals are place for employees to reach."
elizabeth wilson says"STAY AWAY AT ALL COSTS. THIS COMPANY IS A SCAM! I make payments well in advance and they still bill me as if I am late. Why? because they can increase your rates and you can't go anywhere else or file for a student loan such as the US student loans. Even if you pay on time, the company is hell-bent on wanting you to be late, so they can take advantage. If you are a parent or a vulnerable student, STAY AWAY please I beg you !! Go to the US federal loan or somewhere else. Something is not right and they will come after your family even if they screw up your accounts.
Patty says"This company has customer service reps that need some serious customer service skills training. Its very very frustrating when u recieve info directly from sallie mae to simply call them if you have a question. However when u call the customer service behaves like u should not be questioning them . When ask to speak to supervisor . Then runaround starts first no supervisor then can call u 24 to 48 hours. Then can call u 3 hours. Its just not right. First you rio off colllege kids with high rates of interest on their student loans. You cant even get respect. Please dont take a loan with sallie mae. It should be against the law. But Delaware has banking laws created by sleepy joe. He didnt look out for college kids only big banks . Its very sad."
Jen Goresh says"This company advertises very low interest rates but does not give these interest rates advertised. It is false advertising. I have an almost perfect credit score and the interest rates are astronomically high. In addition, the people working for the company are although nice, not helpful and just want to get you off of the phone as soon as possible, not really looking to work you through any troubles when applying for loans. I would never suggest the use of this company to anyone."
Johnetter says"They keep calling 24-7 with nasty customer service animal."
Gina says"A horrible company to deal with.
Many of there employees are unprofessional.
Here’s my story: I took an interest only loan with Sallie Mae for the fall semester of 2018. I had planned to work during the semester however it was my freshman year and I was overwhelmed with school work. So the job never happened and after the first couple of months I was struggling to make the $98.00 interest payment so I called Sally May and asked if I could convert to a deferred loan until I completed school. They refused and would not offer any solutions other than to continue adding late charges to the already exorbitant interest rate they were charging. Ultimately I had to find another loan company, Suntrust, they were wonderful and solved the issue by paying off Sallie Mae and consolidating the loan with my spring semester loan. Which is now deferred until I finish college.
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."
Becky Bowman says"This company is an absolute nightmare!!! They are rude, inexperienced robots! They will never work with you as a new graduate to help you manage your loans. All they care about is getting your money. It doesn't matter about your situation, for example--not having a job when you graduate, or you have a new job, but it doesn't start until a few weeks, etc.. I have got everything ready for refinancing into a much lower interest rate with another lender and guess who has held us up for several weeks? You got it---Sallie Mae!!! All my new lender wants is the payoff amount, borrower name, loan numbers and they will not email or fax to the new lender. They say, "We aren't allowed to do that and will send a hard copy letter to you". Well, we have been waiting for that hard copy letter for weeks and every time you call them they have no knowledge of the letter, say it hasn't been mailed, or it was mailed 2 weeks ago. On the next phone call, "We don't know anything about any letter" and after a few minutes, they indicate they mailed it 2 days later than the first time they told you. The next call was several weeks later and still no hard copy letter. They said that they mailed it yesterday!! What on earth is wrong with this company??? I am going to have a stroke before I turn 25, dealing with these people. I had another lender, Discover, that was a joy to deal with. Every request was a No problem and it was done. None of the BS like with Sallie Mae. If you are thinking about a loan with Sallie Mae, please save yourself a lot of heartache and go with another lender. Sallie Mae is a joke and should not be in the business!!!!"
Veritas in Vino says"Dishonest company. Have been repaying debt for years and will fixed the net payment doesnt seem to go down. They have all kinds of hidden fees and I can never find the information I need showing what was paid vs what is pending clearly. Instead they show THEIR own ledger which is hard to follow. DO NOT use Sallie Mae. Complete crooks and with crazy interest rates its really not worth it!"
Veritas in Vino says"worst experience! they not only cheat and lie by charging "accrued interest" and they are not forthcoming with information!!!!
The only option to see the payment history is an antiquated general ledger which doesnt include summary totals! so you have to add up all the payment and subtract the accrued interest etc to find out how much you actually paid!! ...
In a nutshell, because of accrued interest, I ended up only paying off only 1/3 of my account over 2 years!!!!"
Kayla Gant says"SallieMae's customer service absolutely sucks. It seems like no one ever has the same information. Everyone is always confused and when you talk to a new representative they have no idea what the policy is. It's just absolutely insane."
demoniraa says"scheduling loan payments is my least favorite thing about adulthood, but i love adulting, so i won’t complain too m… https://t.co/KI6DYSfymG"
nihilum_000 says"@ismokecrackbruh i been givin my utility companies the same story for 5 months n Sallie Mae think im dead"
trubisky10 says"@MeidasTouch I heard Sallie Mae was using illegal hashtags. Shut them down too."
In The News
IndyStar reports"'My dad is going to kill me.' Mother reported boy's words to DCS days before his death"
CNBC reports"How to avoid getting crushed with student loan debt during the pandemic"
Bloomberg Law reports"Sallie Mae Accused of Race Bias in Worker Criminal Record Checks"
Forbes reports"Proposal: Discharge Student Loans For Those Harmed By Pandemic And Recession"