Student loan -- Dealing with your lender or servicer -- Complaint #5303638
Complaint Overview
Complaint ID: 5303638
Company: SLM Corporation
Product: Student loan
Sub-Product: Private student loan
Issue: Dealing with your lender or servicer
Sub-Issue: Trouble with how payments are being handled
State: Colorado
ZIP Code: 804XX
Date Received: 2022-03-09T12:00:00-05:00
Date Sent to Company: 2022-03-09T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
My daughter and I, XXXX XXXX, signed up for automatic payments for our student loans with Sallie Mae. In doing so, they told me that I would receive a discount of .25 % on my variable interest rate. The discount was never reflected on any of the automatic payments I made. Tried numerous times to get the information requested from Sallie Mae. Was told a supervisor would call me back but no one ever did. The statements I reviewed online still had the original interest rate when the payments were posted. Why would Sallie Mae advertise a .25 % discount when you sign up for automatic payments when they do not honor? Please help!!
Frequently Asked Questions
What is Complaint #5303638 about?
Complaint #5303638 was filed against SLM Corporation regarding Student loan specifically about Dealing with your lender or servicer. It was received by the CFPB on 2022-03-09T12:00:00-05:00.
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.