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Sallie Mae Review
Reviews 29
Sallie Mae
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Sallie Mae
Sallie Mae
Reviews 29
Sarah Badani
Jan. 31, 2023
4 min read
Sarah Badani
Sallie Mae summary
Sallie Mae is a consumer banking service that focuses on providing financial aid to students through loans, savings accounts, and planning tools. One of the most useful options is a private student loan. Sallie Mae offers these loans to almost any type of student from law to business, dental, and more. With flexible repayment terms, generous grace periods, and unusually high approval rates, Sallie Mae might be a top option for students today.
  • Available for part-time students (big plus)
  • Cosigners released after 12 payments
  • Even non-US citizens can apply
  • No minimum credit score requirement published on site
  • So many options can be overwhelming for students

Sallie Mae at a glance

Editorial score

Online experience

Has learning resources, access to rates, mobile app

Customer services and support

Multiple ways of reaching lender, wide range of hours

Repayment flexibility

Offers flexible repayment plans & the option for special repayment programs


Loans available to all credit types, income levels, and students

Variety of Loan Types

Offers all loan types

Sallie Mae Sallie Mae View Rates


Founded in 1972, Sallie Mae has been financing student education for nearly 5 decades. Offering one of the largest ranges of student loans, including undergraduate, MBA, and dental school loans to name a few, Sallie Mae has made a name for itself as the student’s lender of choice.

Sallie Mae has won several awards throughout its long history, including Kiplinger’s Personal Finance award for Best Online Savings Account, Corporate Responsibility Officer’s 100 Best Corporate Citizens (5 times), and the Ron Brown Award for Corporate Leadership. To top it all off, Sallie Mae holds an A+ rating with the Better Business Bureau, exemplifying the company’s trustworthiness and fairness in business practices.

Suitable For?

Honestly, these loans are good for just about any type of student looking to finance their education today. Sallie Mae offers the largest range of private student loans there is. Whether you are a medical student, a dental student, a law or business student, or an undergraduate, Sallie Mae has the loan suitable for your needs.

To break it down further, Sallie Mae works really well for students looking for maximum repayment flexibility or for non-US citizens. The latter is very unusual for private lenders. In general, you are required to be a US citizen or hold a citizenship card in order to apply for a loan. Sallie Mae lets non-US citizens apply for a private student loan as long as they have a cosigner apply with them.

Sallie Mae also gives loans to part-time students, a rarity in this industry.

Loan Features

Sallie Mae offers a huge range of private student loans, much wider than most private lenders. You can get loans for:

  • Bar study
  • Law school
  • Dental residency
  • Dental school
  • Medical residency
  • Medical school
  • Health professions graduate
  • MBA
  • Career training
  • Undergraduate

That's a pretty exhaustive list and something that really makes Sallie Mae stand out. Additionally, there are some noteworthy features that make this private lender more appealing to students, including:

Flexible repayment plans

Sallie Mae loans come with several repayment options, so you aren’t tied to a single plan that doesn’t work with your budget or lifestyle. Instead, Sallie Mae lets students pay back their loan when and how they can. Plus, depending on which loan you have, you can pay it off over anywhere between 10 and 20 years.

Deferment and forbearance

Two of the most generous features of a Sallie Mae loan are deferment and forbearance options. Deferment lets you put a pause on your loan payments, while forbearance will let you push off your loan payments. Both of these features give students more flexibility to pay off loans comfortably and easily.

Cosigner release

The fact that Sallie Mae lets students sign up with a cosigner is already a big perk for this lender. Many students who wouldn’t get approval on their own can enjoy comfortable loan terms thanks to the acceptance of a cosigner at their side. What’s more, Sallie Mae offers a cosigner release. That means student borrowers may apply to release their cosigner from the loan after they graduate, make 12 on-time, principal and interest payments, and meet certain credit requirements.⁷

The Application Process

Sallie Mae makes the application process pretty easy for students. You can fill out the entire form online in under 15 minutes and get approval instantly. Once you’ve been approved, Sallie Mae will provide you with loan options to choose from. Some applicants will be asked to share additional documentation or information, extending the application process.

If you accept the terms of a loan, your school will need to certify the loan before it can be processed. The process can be completed in roughly 10 business days, but this varies greatly depending on how long it will take your school to verify your information and certify the loan.

Your credit report will be pulled (points lost for Sallie Mae) before you get a rate quote, and if you have bad credit, this will affect your approval success rate. Fortunately, Sallie Mae lets borrowers sign up with a cosigner. A cosigner will help increase your chances of approval and can lower your interest rates too. If you’re applying with a cosigner, you’ll need the following information for both of you:

  • Your physical address
  • Social Security number
  • School information can include enrollment status, degree, course of study, etc.
  • Academic period of enrollment/year in school
  • Amount needed
  • Financial aid and scholarships received or pending
  • Financial information (bank accounts, monthly mortgage, rent payments)
  • Employment information
  • Personal contacts

Eligibility Requirements

While Sallie Mae doesn’t specify everything that goes into the equation, various factors will be taken into consideration when you apply for a private student loan. Some of these may include:

  • Your history of borrowing and repaying loans
  • Creditworthiness
  • Enrollment at a participating school

Loan Rates

Sallie Mae private student loan variable APR rates range from 5.37% - 15.70%*, and fixed APR rates range from 4.50% - 14.83%*. It’s a pretty wide range to be sure, and that’s because several factors will alter the rate accordingly. For example, if you have terrible credit, you are going to receive a higher APR. Meanwhile, applying for a private student loan along with a cosigner will automatically reduce your rates. The amount you are borrowing, your creditworthiness, and the length of the loan terms are other factors that go into determining your final interest rate.

One big plus is that Sallie Mae doesn’t charge origination fees or prepayment penalties.³ So, you can pay back as fast as you can and save on interest payments. You will be charged late fees if payments are not presented by the repayment date each month.

Repayment Terms

Sallie Mae has wonderfully flexible repayment terms. Depending on which loan you have, you can pay it off in anywhere from 10 to 20 years, and there are several ways to pay. You can choose between variable or fixed interest rates. You can then also decide if you want to make zero payments while in school, deferring it all until after your grace period finishes.

Or you can make a set payment each month while in school, and only start paying off a larger sum once you’re finished with school. Alternatively, you can make interest-only payments until your grace period ends. Flexibility is a key factor when choosing a loan provider.

How Safe Is It?

Sallie Mae uses industry-standard safeguards to keep your information safe. These include administrative, technological, and physical security measures.

Customer Service

Sallie Mae has in-house customer support that is available to answer questions. Reach a rep via phone or mail during working hours. You can also search through the organized and comprehensive FAQ section on the website.

855-756-5626 (855-SLM-LOAN) 

Monday – Thursday: 8am to 10pm ET

Friday: 8am to 9pm ET 

Saturday: 9am to 6pm ET 

Sunday: 11am to 5pm ET


Sallie Mae is a great option for students looking to finance their higher education. It is one of the most flexible options, lending to both part-time students and non-US citizens, as well as standard students. Sallie Mae private loans have plenty of repayment options, reasonable rates, and no fees to worry about. With a 6-month grace period and forbearance, students would be wise to consider this student-friendly private lender.


Borrow Responsibly

We encourage students and families to start with savings, grants, scholarships, and federal student loans to pay for college. Students and families should evaluate all anticipated monthly loan payments, and how much the student expects to earn in the future, before considering a private student loan.

Loans for Undergraduate & Career Training Students are not intended for graduate students and are subject to credit approval, identity verification, signed loan documents, and school certification. Student must attend a participating school. Student or cosigner must meet the age of majority in their state of residence. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., attend school in the U.S., apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident), and provide an unexpired government-issued photo ID. Requested loan amount must be at least $1,000.

*1. Advertised APRs for undergraduate students assume a $10,000 loan to a student who attends school for 4 years and has no prior Sallie Mae-serviced loans. Interest rates for variable rate loans may increase or decrease over the life of the loan based on changes to the 30-day Average Secured Overnight Financing Rate (SOFR) rounded up to the nearest one-eighth of one percent. Advertised variable rates are the starting range of rates and may vary outside of that range over the life of the loan. Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. To receive a 0.25 percentage point interest rate discount, the borrower or cosigner must enroll in auto debit through Sallie Mae. The discount applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment.

2. In 2021, instant credit decisions were provided to 97% of applicants. Other applications typically received credit decisions in 3 to 5 business days.

3. Although we do not charge a penalty or fee if you prepay your loan, any prepayment will be applied as outlined in your promissory note—first to Unpaid Fees and costs, then to Unpaid Interest, and then to Current Principal.

4. Loan amount cannot exceed the cost of attendance less financial aid received, as certified by the school. Sallie Mae reserves the right to approve a lower loan amount than the school-certified amount. Miscellaneous personal expenses (such as a laptop) may be included in the cost of attendance for students enrolled at least half-time.

5. Based on a comparison of approval rates for Sallie Mae Smart Option Student Loans for undergraduate students who applied with a cosigner versus without a cosigner during a rolling 12-month period from October 1, 2020 through September 30, 2021.

6. Examples of typical costs for a $10,000 Smart Option Student Loan with the most common fixed rate, fixed repayment option, 6-month separation period, and two disbursements: For a borrower with no prior loans and a 4-year in-school period, it works out to a 10.28% fixed APR, 51 payments of $25.00, 119 payments of $182.67 and one payment of $121.71, for a Total Loan Cost of $23,134.44. For a borrower with $20,000 in prior loans and a 2-year in-school period, it works out to a 10.78% fixed APR, 27 payments of $25.00, 179 payments of $132.53 and one payment of $40.35 for a total loan cost of $24,438.22. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 10 years.

7. Only the borrower may apply for cosigner release. To do so, they must first meet the age of majority in their state and provide proof of graduation (or completion of certification program), income, and U.S. citizenship of permanent residency (if their status has changed since they applied.) In the last 12 months, the borrower can't have been past due on any loans serviced by Sallie Mae for 30 or more days or enrolled in any hardship forbearances or modified repayment programs. In addition, the borrower must have paid ahead or made 12 on-time principal and interest payments on each loan requested for release. The loan can't be past due when the cosigner release application is processed. The borrower must also demonstrate the ability to assume full responsibility of the loan(s) individually and pass a credit review when the cosigner release application is processed that demonstrates a satisfactory credit history including but not limited to no: bankruptcy, foreclosure, student loan(s) in default or 90-day delinquencies in the last 24 months. Requirements are subject to change.


Information valid as of 01/25/2023.

Smart Option Student Loans® are made by Sallie Mae Bank. Sallie Mae, the Sallie Mae logo, and other Sallie Mae names and logos are service marks or registered service marks of Sallie Mae Bank. All other names and logos used are the trademarks or service marks of their respective owners.

©2023 Sallie Mae Bank. All rights reserved.

SLM Corporation and its subsidiaries, including Sallie Mae Bank, are not sponsored by or agencies of the United States of America.

Sarah Badani
Written by
Sarah Badani
Sarah Badani has extensive research and review experience in the finance industry. With a degree in psychology and education, she brings a level of depth and understanding to her writing along with her own flavor to spice up each topic in a unique and inviting way. She writes for BestMoney and enjoys helping readers make sense of the options on the market.‎
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Sallie Mae
Reviews 29
2 days ago
Run away...from Sallie Mae
Run away... Avoid this criminal company at all cost. THEY DO NOT OFFER GOVT LOANS despite what they say. They do not allow income-based repayment "ON PRIVATE LOANS" they ONLY have Private loans which is how they deceive. They have unending robo-calls that continue after your loan is paid in full until you call 3 or 4 times to complain. I used Sallie Mae for myself and made the mistake of using them for my kid's college as well so I have lots of interaction and I can say that every single contact with Sallie Mae left me with a bad taste in my mouth.
nathan greene
17 days ago
This company is the most heartless…
This company is the most heartless predatory lender in the world. They kick students when they are down and keeping kicking. The use variable rate interest so that they can make money on top of money. When the student graduates they cannot even begin to pay off the loan principal for years because they have increased interest at least once or twice during the in school deferment alone. When the student starts to pay back what they can afford its just interest they are paying while they are still charging interest. So in reality the student is in debt for years upon years. This is terrible to do to students when they are trying to achieve more in life by getting an education and their only means is through a loan. This company does not work with their customers at all and just sucks money from them. I highly wish that this company would go out of business since they have no regard for students just treat them like a dollar sign and not a human being. The are predatory and down right lying criminals! Please never use them for any loan while your student is in school.
olivia brock
3 months ago
I truly do not know where to even begin. They began charging interest when the loan was disbursed and I did not finish my education until 5 years later. They also do not have a separation between interest and principle. You cannot pay toward your principle alone, and the interest is on the total amount due not the loan amount. I was told it would take EIGHT YEARS to pay off a very small loan. They lack compassion, and only like you if you play the stupid little game. I cannot stress enough how evil this company is. Hands down the worst to ever ever exist. Sallie Mae is why people don't attempt a higher education, because they are an 'easy option' but DO NOT BE FOOLED!! EVIL EVIL AWFUL COMPANY!! I would never recommend them to anyone, even my mortal enemy.
todd wilson
5 months ago
If I could leave a -10 star review I…
If I could leave a -10 star review I would do it in a. This is a classic example of a ridiculously unmanaged government program with zero oversight and zero sensibility. In April 2022 I applied for a student loan for my sons flight school. I had a few credit cards and a couple of car notes on my credit report and had about a 740 credit rating. I requested a loan in the amount of $113,000 and they wanted 8.75% interest rate on a 15 year loan. That was ridiculous as I haven’t had an interest rate that high since I was in college. I am now 54 I’ve had my home since 2006 never a late payment I have been employed by the same company for 21 years as a professional pilot. There are no negatives whatsoever on my credit report. I had to call them five different times because it took ten days when I reapplied for $100,000 loan and every single time I was on hold for a solid hour or more to get a human being that not once offered any sensible assistance. I reapplied for a lesser amount given the horrific interest rate. I had since paid off three cars, all credit cards and I have zero short-term debt. I have a primary mortgage that is well within my means and a second mortgage on a rented rental home. I also have a boat payment that is more than half paid off . Those are the only three line items on my credit report and I have well over $150,000 available credit in credit cards. They all have a zero balance. I also show an 820+ credit rating on all three bureaus. During one of my five phone calls the person on the telephone attempted to educate me on how credit scores are calculated. I really wish I had said, do you think with my credit rating that I don’t know how to use credit properly? I did not say that, I did ask her why on earth with my credit rating and my credit file how they now have come back with a 14.75% interest rate, the highest one they can charge. She had no answer, only to try and educate me on credit scores and informed me that it was automatically done by the computer and there was nothing she could do, needless to say this is a broken system with zero oversight no accountability and no common sense. They have you over a barrel when it comes to flight school training they are literally one of the only ones that will offer a student loan for this type of school. If anyone out there thinks that Sallie Mae is a good option for any financing I would think again I would look long and hard to avoid dealing with these morons at any cost
nicole m
5 months ago
To make a long story short this company…
To make a long story short this company is not helpful to their borrowers. Basically if you already used the Graduate Repayment Program and used the forbearance then thats it. You have no more options. So unless you miss a payment they will be more than happy to assist if possible but there is no guarantee. If you are trying to avoid that and trying to get ahead of this you can forget help. I will never ever recommend them to anyone. They are unhelpful and will send you all over the place to finally have someone tell you no they can't help. Even with Covid-19 they only pause the payments for three months they never offered any alternative repayments other than the Graduate Repayment and once you used that then your done. Now with Rescission looming over they will not help. So I will repeat never ever use them.
katie breen
5 months ago
This is a criminal organization
This is a criminal organization. Do not do business with them.
olivia yates
5 months ago
Sallie Mae is probably the nastiest
Sallie Mae is probably the nastiest, money hungry, unhelpful, evil company. They don’t give a s**t about you. They care about what you can pay them and when you can do it. I am still in rolled in school and they charged me even though they shouldn’t have. And they wouldn’t take the charge off even though they saw that I was still in school. They threatened to send my late status to collections, even though I am still enrolled in school and should not have a payment at all. Do not use this soul sucking, horrible company for f**king anything. I hope this company burns to the ground honestly.
6 months ago
Sallie Mae is nothing more than a…
Sallie Mae is nothing more than a predatory lender. The website is ridiculous to navigate and your interest rate is higher than Hunter. They send you a payment reminder of $0 and add interest of $50+ each month. To speak to a human takes up to an hour as to discourage you and instigate a hang up. I would not recommend this service to anyone unless you feel like paying 3xs what you borrow.
6 months ago
Do not get a student loan from them
Our son has a student loan that is supposed to be deferred until he graduates but now they are telling us payments will start in December even though he has 2 years left. They will defer it but only by refinancing at a higher rate.
jessica barnes
6 months ago
f I could give 0 stars I would
f I could give 0 stars I would. There is no communication between departments, resulting in missed/late payments and different prices everywhere. Do your research and go with literally any other lender besides sallie mae. I asked for hardship to reduce my loan amount and was approved and have money taken out of my account. I called because it said I was past due on payments and they then told me I was denied for hardship AFTER my money was taken out of my account with absolutely no communication stating that I was denied after initially being approved. The reasoning? “Because you never attempted to pay the original loan amount”. Essentially they wanted my loan to become delinquent, ruin my credit, and THEN apply for hardship instead of being proactive like I was doing. If you currently have sallie mae loans re finance with a different company as soon as possible.
linda dolder
6 months ago
My variable loans started to go up .25…
My variable loans started to go up .25 percent each month since March! With no end in sight! I have been perfect on payments, but they have no options for you. Price gouging customers for no reason, it was the same interest rate since 2016 when I started paying. No all of the sudden when Russia went to war with Ukraine, I have to now pay over an extra $200 per month? With every month increasing more and more. No notification on why this is, or your rates increasing. Stay away from this company! When I first took out student loans with this company, I was yelled at by their customer service to the point he had me crying on phone. I was too dumb and young then to read the writing on the wall. Today I finally refinanced my loans, asked how long their payoff processing is an how the long the processing time is when they receive the funds. I was yelled at yet again, the person said “MAAM, that is not up to us!! Refer yourself to your new carrier!!” And I was like “I already spoke to them, I want to know YOUR processing time? Once funds are received to pay off loans” yet again then said “Your new loan provider will have that information”. Are they mad they’re loosing business on my student loan interest? I thought they would be happy they are finally getting paid. Right at the end of the call they said “Now let’s recap, I referred you to your new provider…blah…blah..” why recap the same conversation you just said? I work in financial customer service as well, and I never do this to my customers. Just makes the caller feel dumb, everytime. Like they can’t comprehend the call. Stay away from this company!!! Please read trust pilot before any company you go with. My company cares about reviews of customers and customer satisfaction, Sallie Mae only cares about money and bullying.
renee goss
8 months ago
Sallie Mae
I have dealt with Sallie Mae for the past 12 years. We pay our loans consistently and have even made payments on accounts that are in deferment. Over the past year their service has gotten worse and worse. They are constantly calling us and saying our accounts are past due when the payment was made and they hadn't "processed" it yet. They post duplicate payments to one account while not posting anything to another one. They have not processed checks on two separate occasions and have not returned the check nor contacted us within a reasonable amount of time to let us know they "couldn't scan" the check. They still haven't processed my payment from November 2021 and have never returned my check to me. They only notified us in April that it "couldn't be processed" after we called to speak to them about another Past Due notice. I have spoken with them on the phone, sent letters to their "complaint" department to no avail. I DO NOT Recommend you use them under any circumstances.
10 months ago
Opened a money saving account
Opened a money saving account. Immediately transferred a large sum into it. On the same day, they notified me my account will be close due to fraud activity. When ask why and when I am going to get my money back, representative was rude and unhelpful. Keep repeating “please contact your bank.” Multiple calls to sallie mae with different answers each time and calls to my own bank and weeks went by, finally got my money back. But….sallie mae accidentally transferred double the amount. So now they been bothering me to get their money back. Umm…you guys are the bank, go to talk my bank about it! Work on your customer services skills, learn compassion, and customers have the rights to know the appropriate ways to get their fund back. One rep I spoke with was kind and knowledgeable, but the rest I spoke with gave me wrong info and was just rude and didn’t care. As a customer who never went through this, it was nerve wrecking and anxiety ridden knowing sallie mae held onto a large sum of my money without knowing what will happen to it or if I’ll ever get it back since they mention fraud. Yea, thanks for teaching me a lesson. Never do business with sallie mae.
daniel somok
a year ago
I would give this company a negative…
I would give this company a negative five star. Since the middle of December I have not been able to access my account either via the website or via their app. Yesterday I talked to the supervisor and they were supposed to call me back with my balances and nobody ever called me back. This morning I called the supervisor and she was supposed to send me a secure email with password to download a PDF with my account number so that I could close out my account and transfer the money to another bank. Hour later I still have not received that email from the supervisor. I called the main number and I closed out the account and I will never have to deal with this incompetent bank again. They hold your money hostage
daniel somok
a year ago
Stay far away from Sally May banking…
Stay far away from Sally May banking for 3 months now they can't get their app to work. They are well aware of this and there is no fingerprint identification ID. All my financial institutions have fingerprint ID. And for 3 months I have trouble signing in at their web page so stay far or far away. I don't know how they stay in business.
daniel somok
a year ago
One star is too much
One star is too much. For the last 2 months I have trouble logging into my account either at their website or using their app. I've called about five times to tell them the app and their website don't work and sends out error codes. I can't even deposit or withdrawal using the online features of the state it stinks. Just called them back and they said they known for months that their app is not working on Android phones and told me to use an Apple phone this is completely unacceptable. I'm going to report this to my state banking commissioner and others should do the same
endur ex
a year ago
Their approval odds don't make any…
Their approval odds don't make any sense to me. They want more than 2 years of credit history most student out high-school don't have established credit but, for a student loan that able to elevate you to join the work field makes its risky?
daniel somok
a year ago
Sallie Mae baking paid a decent…
Sallie Mae baking paid a decent interest rate when I opened up my account. The only problems they do everything online including tax forms. Well in the last two weeks I can't log on to my account I get an error code and I called them and tell them they have not been able to resolve the problems. So I can't withdraw I can't deposit online. And the last time I made a deposit I had a call to bank and they had to do it for me. And I asked for a supervisor to call me back and waited for 12 hours today and they never called me back. I am so frustrated with them that on Friday at the supervisor doesn't call me back and fix this problem I'm going to withdraw all my money from the space. Customer service stinks
a year ago
Don't Borrow from Sallie Mae
If I could give them zero stars I would. These people don't deserve a single star. I borrowed from Sallie Mae for my college loans. This was the biggest mistake of my life. I graduated in 2019 with strong career prospects and was eager to start paying back my loans once I landed on my feet. However, during the COVID-19 pandemic, I was out of work and once things started to open back up I was interviewing and applying for jobs because I wanted to pay back my debts. I explained my situation to Sallie Mae, but they did not and do not care! These people called me four to five times a day demanding money they knew I didn't have. I explained I was interning and was barely making enough to pay my rent, but they didn't care, they just wanted their money. They emotionally humiliated me during this time by forcing me to consistently explain why I couldn't pay. Almost all my interviews where virtual - Zoom, Teams, or by Phone. I was very happy that I was finally being actively considered for jobs and I was looking forward to being able to pay back my debts. However, despite me asking them not to call me, they continued to call four to five times a day and interrupted two or three interviews and even cost me an offer. Remember, these interviews where virtual and I needed my phone to be able to do them. When I told them that they cost me a job offer because they kept calling me, the response from the agent, "Well, I would have made accommodations like to not taking my phone into an interview." It was at that moment I learned that this company is run and operated by heartless monsters who want to hurt and harm their customers. They don't care about you. They just want their money. When I could pay, I did pay. But for the most part, I couldn't and Sallie Mae's consistent calling slowed down my ability to pay. I was so thankful when I was able to refinance last month and rid myself of these monsters. Since refinancing and saying, goodbye to Sallie Mae, I have peace, I have dignity, and I have a company that is working with me to pay back my debts. So, in short, do not borrow from this place. Sallie Mae, I hope that you will wake up and begin to care about your customers. People, like me, want to pay what we owe. But we can't when we don't have a job and we couldn't get a job when you inconsiderate uncaring monsters call us 24/7. You robbed me of my dignity, you harmed my mental health, and you hurt me. Learn about proper business, customer service, and compassion and maybe, just maybe, you will see satisfied customers who have something good to say about your company.
a year ago
Do not get a loan here!
I highly recommend all college students avoid getting any loans through Sallie Mae. They’re a horribly greedy company unwilling to work with their borrowers in any helpful capacity regardless of circumstance, their customer service is not knowledgeable and does not provide consistent information across representatives. The interest and policies and just everything associated with this company is a trap and my biggest mistake during college was applying for a loan through Sallie Mae. If you need a private student loan, at least Discover will work with you during repayment and has good customer service.
elizabeth wilson
2 years ago
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. STAY AWAY!!
2 years ago
Bank for bidens
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
3 years ago
This company advertises very low…
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.
kayla gant
3 years ago
Terrible Customer Service
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.
4 years ago
They keep calling 24-7 with nasty…
They keep calling 24-7 with nasty customer service animal.
4 years ago
A Greedy Banker
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
4 years ago
SallieMae is a NIGHTMARE to deal with
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
4 years ago
Dishonest company
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
5 years ago
worst experience
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!!!!