Student loan -- Dealing with your lender or servicer -- Complaint #11033975
Complaint Overview
Complaint ID: 11033975
Company: SLM Corporation
Product: Student loan
Sub-Product: Private student loan
Issue: Dealing with your lender or servicer
Sub-Issue: Co-signer
State: California
ZIP Code: 92124
Date Received: 2024-12-04T12:00:00-05:00
Date Sent to Company: 2024-12-04T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
I got a loan back in XXXX through Sallie Mae with a co-signer. With the intention to pay consistently to get the co-signer off like I was told. I started repaying in XXXX. I have paid an average of {$110.00} ( give or take ) since then automatically. My loan was for {$7000.00}. Ive been paying since XXXX every month. I STILL OWE {$6600.00} as of XX/XX/XXXX towards the loan Breakdown : $ XXXXXXXX XXXX 12 months = {$1300.00} {$1300.00} XXXX XXXX ( years paid so far ) = {$9200.00} YET. {$380.00} has only gone towards the principle {$8800.00} has been interest So Ive paid off my loan in interest plus some and yet havent hit {$1000.00} towards the principle in 7 years. This was all misleading for a college student and illegal in my honest opinion. This loan should be paid already and I honestly should have gotten reimbursed back when there was something filed towards XXXX and Sallie Mae ( but I never did ). The information was misleading back in XXXX. I havent missed a payment and I cant release my co-signer in addition to that. The reason I cant release my co-signer after 7 YEARS OF PAYING ON TIME per Sallie Mae was because of my credit score.but thats not what I was told. I was told after so many years with perfect paid history the co-signer could be released easily ( nothing else was told ). So I was lied to back in XXXX. And it says the loan wont be paid off until XXXX. ( 15 years to pay off a {$7000.00} loan never late ). So XXXX % of what Ive paid the past 7 years has gone to interest. Sallie Mae should not be XXXX college kids. I am XXXX XXXX XXXX and realizing I was used. Sallie Mae is a disgrace. They say they want to help students but they take their money and watch them struggle. Its illegal and sad.
Frequently Asked Questions
What is Complaint #11033975 about?
Complaint #11033975 was filed against SLM Corporation regarding Student loan specifically about Dealing with your lender or servicer. It was received by the CFPB on 2024-12-04T12:00:00-05:00.
How did SLM Corporation respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Student loan) and describe your issue in detail.
Can I see other complaints against SLM Corporation?
Yes, visit the SLM Corporation company profile at readthecomplaint.com/company/slm-corporation to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.