I have a private loan for Salliemae and I have been trying to get some kind of documentation showing that I aggreed to any of this!! I originally borrowed 3500, now they are saying that I owe 6500!! wow! I ask for a settlement, Nope, No settlements can be made on private loans they say....yes, I have called various times, I have been hung up on so many times it's hard to count....I feel I keep making payments and every month when I get my bill it's way higher than the previous month, and yes, I do understand interest but good grief, I just want to be finished with Salliemae...What can I do? Oh and by the way I finally got the prom agg. in, NO SIGNATURES ANYWHERE, they didn't even send me what I ask for. And the said they wont talk to me unless my account is current. whew!!!

What about if your student loans are Federal with Sallie Mae, i.e subsidized and unsubsidized? I have one of each. Can one settle on these if you default?

If your loans are currently with sallie mae, you are not in defaullt. Federal loans are in default when the guarantor pays the claim, thus the loan is no longer with sallie mae.

Defaulted lloans will settle, but not like other debts. They usually will only waive a portion of the collection fees and you will receive a 1099 for anything over $600 waived.

Just take out federal loans...preferably subsidized. Screw Sallie Mae and their Private Loan Crap. The interest is outrageous and they refuse to work with anyone. I was seriously injured in a car accident and had a leg amputated from the knee down. I also suffered a head and spine injury. Believe me, they don't care. In fact, their operators don't even know what they're doing. They're just trying to get their bonus money. Lovely operation they run. Fortunately, I have a husband who has everything in his name and takes care of me. I did not intend to default on Sallie, but circumstances are what they are. I offered a substantial monthly payment, and a substantial payoff when they scoffed at the payments. They sought a judgment. Whatever. They can get bent as they won't see a dime from me E V E R. I will also join any group or sign anything to get these crooks out of business for good.

One more thing...it's JUDGMENT...drop the E. That's for the know it all types who can't even spell the word.

Just take out federal loans...preferably subsidized. Screw Sallie Mae and their Private Loan Crap. The interest is outrageous and they refuse to work with anyone. I was seriously injured in a car accident and had a leg amputated from the knee down. I also suffered a head and spine injury. Believe me, they don't care. In fact, their operators don't even know what they're doing. They're just trying to get their bonus money. Lovely operation they run. Fortunately, I have a husband who has everything in his name and takes care of me. I did not intend to default on Sallie, but circumstances are what they are. I offered a substantial monthly payment, and a substantial payoff when they scoffed at the payments. They sought a judgment. Whatever. They can get bent as they won't see a dime from me E V E R. I will also join any group or sign anything to get these crooks out of business for good.
Remember J U D G M E N T. Jeez. Don't worry, I'm posting this all over the net.

Traci who in the heck are you referring to when you address the mis-spelling?

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Excuse me....judgement is a correct spelling.

judgement

In Great Britain and many of its former colonies, “judgement” is still the correct spelling; but ever since Noah Webster decreed the first E superfluous, ...

I am Canadian..that is where I went to law school.

Can Sallie Mae ( I am in default ) take my unemployment money?

No they cannot

I am talking with my ex who currently has a Sally Mae loan she was given for culinary school. The school deceived her into believing she could go into a pastry program that was being set up but never came to fruition. She therefore couldn't recieve the degree and dropped the program.
It's now some 8 years later and the loan amount has exploded from $10k to $50k. They have a lien on her home, and are essentially destroying her life. She is a mother of 4 kids who has NO formal education, and can't get a decent job. Sally Mae and the culinary program exploited her vulnerability. You can talk all you want about people freely entering into these contracts, to take someone who has nothing and promise them a marketable degree only to leave them with nothing and then take their home? Something has to change, to see someone lose everything to these slime balls is hard to take.

Could she have transfered to another school for the pastry program? What about the training she did get? Or did she drop out too soon? You really can blame the school and you certainly cannot blame Sallie Mae...SM was only the lender. Other schools drop attempt to start programs that don't pan out...there may not have been the demand. You cannot call that duping. She was an adult and she entered into the program that could have given her some career training. She allowed the balance to swell, not anyone else.

I've tried following this thread but am still confused on something. I have one direct loan and then 3 private loans from sallie mae. Am I correct in that I cannot consolidate these all with direct loans? Any options here? I'm currently making payments, staying up to date on my accounts, but am struggling to make ends meet. When I look at the NSLDS.ed.gov page it does not even list my sallie mae loans. Any helps appreciated!

You are correct...you cannot consolidate private and federal loans with any federal consolidation loan program.

dont let these ppl lie to you, push sallie mae hard enougb on your student loan and they will settle for less than amount owed----and dont let them scare you thinking they can garnish your wages... go ahead let them take you to court for it, the judge will suide with you... they know they were giving out free money and you took it----so there is fault on both sides... dont let them push you around

Sorry mcarthur...the judge will not side with the debtor due to the default clause in the promisorry note. "Upon default, I agree to pay the balance in full on demand". They will get a judgement and they will be able to garnish....they due it as a normal course of business.

Yes Salliemae will settle...as a general rule for about 20% discount on private loans.