Student loan -- Struggling to repay your loan -- Complaint #4615521
Complaint Overview
Complaint ID: 4615521
Company: SLM Corporation
Product: Student loan
Sub-Product: Private student loan
Issue: Struggling to repay your loan
Sub-Issue: Can't get other flexible options for repaying your loan
State: Pennsylvania
ZIP Code: 16803
Date Received: 2021-08-09T12:00:00-05:00
Date Sent to Company: 2021-08-20T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I reached out to Sallie Mae about my monthly payment this evening because I can not afford the current monthly payment of XXXX a month. The person I spoke with told me that I could extend the term of the loan and was give a monthly rate of XXXX that I told him I still could not afford in my current situation. I told him that I could more closely afford something around XXXX but no more than XXXX. I was told there was nothing that could be done other than forbearance. I said I didn't want to do that, that I am still trying to stay current on this loan so I don't fall behind and miss the payments. I asked if there was a different department or someone I could speak with that neither of those worked for me and was told there was no other department and that I could speak with their escalations department. I was transferred there and was told the same thing that I can either do that plan or I can do a forbearance. This agent also suggested that I could just pay what I can and when I fall behind on the loan that I can just talk to their in-house collections department to see what they can work out. I was given no alternative options and just told that they can do nothing until I stop making payments towards the loan.
Frequently Asked Questions
What is Complaint #4615521 about?
Complaint #4615521 was filed against SLM Corporation regarding Student loan specifically about Struggling to repay your loan. It was received by the CFPB on 2021-08-09T12:00:00-05:00.
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.