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.
- 153 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: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
Initial Complaint
Date:07/18/2022
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.
Sallie Mae offers an MBA specific loan called "Sallie Mae MBA Loan" (https://www.salliemae.com/student-loans/graduate-student-loans/mba-loan/). When I applied to their loan from my computer, their website was taking me to a page called "Smart Options Student Loan," which at the time seemed to be the correct loan. Upon speaking with my school's financial office, they showed me that the loan I applied to was incorrect. I went back to Sallie Mae's website, and their links were still taking me to the wrong loan. I have a screen recording which shows the issue with their link, but the file is larger than 5Mb. After using someone else's computer, I was able to apply for the correct loan, but the interest rate came in higher than their other loan and much higher than expected.
The MBA loan is advertised at 4.25-12.92%, and I have an excellent credit score with no outstanding loans, collections, etc. that would cause me to receive a high rate. I received a high interest rate due to having a loan already in place with them, and the company has been unwilling to take a closer review of the issue or fix their website. I spoke with their customer service group several times and was told at one point that the notes in my file stated that I was "trying to negotiate a lower interest rate".
My issue with the company is that their broken website link drove me to apply for the wrong loan, and that action has caused me to receive a higher interest rate which will ultimately cost me thousands of extra dollars over the course of my loan.Business Response
Date: 08/02/2022
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.
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