Sallie Mae's Success Too Costly
The story's out: Sallie Mae ruins lives. Now is the time for America to wake up and care.
http://www.cbsnews.com/stories/2006/05/05/60minutes/main1591583.shtml
Fed up with state sanctioned fleecing by private loan sharks? It's payback time and Sallie Mae can now "enjoy" the same stitch up treatment we all have for years. Sallie Mae are shameless rip-off merchants. Isn't there a law against loan sharking in this country?
The story's out: Sallie Mae ruins lives. Now is the time for America to wake up and care.
The mainstream news is finally catching on to what we've known all along. Sallie Mae Student Loans bring back the true meaning of mortgage.
FYI- I called Sallie Mae because the last time I called, the operator promised she'd do something and then didn't do it. I told Operator 2 what Operator 1 promised (and I gave him Operator 1's name).
My favorite Sallie Mae experience was when I was faxing them on an almost daily basis with regard to THEIR admin error on my consolidation application. Each faxed letter had all of my contact details including name, SSN, address and home telephone number.
Sallie Mae "selling" off debt for pennies on the dollar to wholly owned subsidaries? That way, they can write off bad loans, take the tax credit for doing so, sell them to junior companies that they own as well for pennies. The junior companies make huge profits, and Sallie Mae appears to keep their hands clean!
Click below to read about Sallie Mae chiselling the disabled and elderly all the way to the Supreme Court. Our learned friends on the bench confirm Sallie Mae's "right" to take their pound of flesh from Social Security payments and out of the pockets of the genuinely poor and infirm in public housing.
We knew it all along! Sallie mae ripping off both poor hardworking students AND the federal government.
How is it that this private company is able to carry out a government function without any regard for proper business practices? Student Loan schysters!
The best part about SM is their customer (indentured servant) care. You will be put straight through to Calcutta where a clueless muppet with incomprehensible English will assist. Would you rather write them a letter and have Sallie Mae give you the courtesy of a written response? Get Real! Sallie Mae don't do paper-trails!
If you want advice on student loans- the answer is DON'T. Get a job and pay your way. I'm sick of rip-off interest, little schyster tricks like "we never received your deferment form..."