i have a website/blog and while i was doing some research to find out was laws govern the student loan companies. But i have found instead of laws that govern them i came across a site that talks about loop holes and confirmed them with u.s. deportment of education. I have posted some of them that haven't been repealed yet at stopsalliemae.weebly.com i have a petition that will bring tougher regulations to the industry on the site to located on the info page.
I am a senior and know many other seniors this year who are trying to go to college. I am going to share this video with them and I hope this news will spread to everyone that should know and needs to know.
I am a senior and know many other seniors this year who are trying to go to college. I am going to share this video with them and I hope this news will spread to everyone that should know.
I too am an American combat vet, cannot return home and have basically been homeless overseas since 2002 because of 10 of thousands of dollars in debt to Sallie Mae cannot get back to the states, they get away with it and just like you, we get the shaft, black, white, brown, yellow, red, all unite! Free America! Thanks for your video friend and good luck to your daughter
Like so many governmental agencies, their sinister agenda is to take advantage and create distress in the lives of anyone they can. They feed off of negative energy because those at the top are not human. Those working over the phones are the unwary sheeple of the herd mentality that have never considered that they, too, may ultimately find themselves in similar circumstances. So, like pawns they blindly do the bidding of those at the top manipulating the public.
Sallie Mae and those of their putrid ilk are not human. They are not people imo and as such should be treated as subhuman sludge. In short, It's time to roll out the guillotine on these motherf...
The issue in general is sallie mea's corporate liability... they have enough money to pay off lawsuits. They basically pay to brake the law, in order to make a profit. Its twisted... basically legit mafia business in a shadow industry
I contacted Sallie Mae complaining about the high interest they are charging me and they only wanted to deduct .25% if I would enroll in Auto Debit. Yeah Right! I got so mad I wanted them to record what I said (which was not too nice). To think that the USA actually helps third world countries aid yet we native born Americans can't finish our education because of the high interest scam artist like Sallie Mae gives out.
sue em! I hate their company, shame on them for paying off congress and giving bonuses to schools to get students to sign on with them by their financial aid "advisors" and not telling them what their interest will be.
I have worked in the student loan industry over 15 years and I am very familiar with this family’s frustration. First let me say that most lending institutions who offer student loans are very meticulous and follow regulations in order to stay in compliance. It sounds as if your daughter co-signed on a private student loan.
Federal student loans are not credit or income based they are need based loans. If sallie would have followed protocol and stayed within compliance by contacting the co-signer to verify the validity of the document, this family would not have the problems they are facing. I co-signed on one my daughters private student loans and my mother on my second daughters student loan through sallie mae. Sallie Mae contacted me and my mother by
snail mail as well as telephone to verify the validity of the document before processing, this is where I think sallie mae dropped the ball! Typically when a loan document crosses a student loan processors desk there are several identifiers that must be verified. The co-signers date of birth, credit history, and employment history should have raised a red flag! This should have prompted an immediate call to the co-signer.
It also sounds like you may want to talk with the young person and her parents who asked your daughter to place personal information on the loan documents. Check to see if legal action can be taken against them as well
I am typically a very nice person, but I must comment on xlAmberllx statement. I am not sure if you’re familiar with lending practices and regulations, however I found your comments unwarranted. This is a learning lesson for this young lady and she is very luck to have parents who are looking out for her well being! If you’re angry at the state of the union I am also, so suck it up! However, this family has a legitimate complaint.
Help me understand this here. You're saying SLMA only has the endorser addendum on file and that loan was not finalized? It sounds like to me there was only a loan application (with your daughter as an endorser (essentially a cosigner)) and that was never certified by the school.
This family is blaming this situation on Sallie Mae, but the fact of the matter is that this young woman willingly gave her info OVER THE PHONE to someone who claimed she wanted to use it as a reference. Personally I have acted as a 'referal' as these people put it and all it takes to be a 'referal' is your name, address and contact phone. NEVER would it ask for your SSN, DOB, Mothers Maiden name; all of which are required to Co-sign.
Your daughter need to GROW UP!! Its ppl like you and your daugher that are making the economy so bad!! You say shame on Sallie Mae for 'Letting this happen' to Jasmine, but your daughter is the one who VOLUNTARILY signed the form. Had she READ what she was signing her name to, she would not be a part of this.. People of America, if we EVER want to get out of this economic hardship that we are ALL in together, we need to man up and take care of our responsibilities.
@pogijuice9061 THANK YOU! I am so happy to see that Sallie Mae is having its bloodline to corporate welfare curbed. The vampires need a stake through the heart and buried.
Compared to the situation your in I feel as though I shouldn't complain. I used to get calls in the middle of the night and at the crack of dawn and now I'm getting letters. Then I was unemployed and I got fired so now I'm unemployed and unable to pay back anything. I called them to ask them to stop calling and they haven't stoped calling in fact they call more than ever and don't remember anyone calling by my name.
They have done this to many people; your daughter is not the first. You might as well FIRE YOUR LAWYERS and start paying the loan, because you are going to wind up paying an additional $30,000 to the lawyers in addition to having to pay the Sallie Mae loan your daughter signed. Your lawyers should be ashamed for leading you to believe you have a winnable case. You don't.
You are mad at the wrong party. You should be mad at your daughter & her friend. Being such a great parent, teach your daughter that references never sign anything. I myself cosigned a Sallie Mae loan. I read the document that clearly said "Endorser Application". I also received several letters from Sallie Mae throughout the process, some telling me that I could remove myself as an endorser before the money was sent out. It appears that your daughter is not telling you the complete truth.
4:53 your daughter admitted to signing the document that said endorser. This is her own fault. I believe that if this is taken to court the only outcome will be that the judge advises your daughter to read and understand what she is signing. On the form she signed it says " Think carefully before signing, if the borrower does not pay as agreed in the terms, it will be your responsibility to do so". It doesnt get much clearer than this. Although she didnt read this, its not the companys fault.
Im really sorry but Sallie Mae operates in conjunction with the government in a socialistic system. They deal with federal loans that are guaranteed by the government there is little incentive for them to resolve issues which may result in a default. This is because in the event of a default the government pays them principal plus interest. At this point they are also granted rights to act as a collection agency for the gov. (where they make more money)
i have a website/blog and while i was doing some research to find out was laws govern the student loan companies. But i have found instead of laws that govern them i came across a site that talks about loop holes and confirmed them with u.s. deportment of education. I have posted some of them that haven't been repealed yet at stopsalliemae.weebly.com i have a petition that will bring tougher regulations to the industry on the site to located on the info page.
cave13 1 month ago
Interesting.
screwsalliemaedebt 3 months ago
Lol
avataz 7 months ago
I am a senior and know many other seniors this year who are trying to go to college. I am going to share this video with them and I hope this news will spread to everyone that should know and needs to know.
Je2Kami 8 months ago
I am a senior and know many other seniors this year who are trying to go to college. I am going to share this video with them and I hope this news will spread to everyone that should know.
Je2Kami 8 months ago
I too am an American combat vet, cannot return home and have basically been homeless overseas since 2002 because of 10 of thousands of dollars in debt to Sallie Mae cannot get back to the states, they get away with it and just like you, we get the shaft, black, white, brown, yellow, red, all unite! Free America! Thanks for your video friend and good luck to your daughter
TheDuckHowie 8 months ago
Sallie Mae are croooks
SpearofDestiny0 11 months ago
Like so many governmental agencies, their sinister agenda is to take advantage and create distress in the lives of anyone they can. They feed off of negative energy because those at the top are not human. Those working over the phones are the unwary sheeple of the herd mentality that have never considered that they, too, may ultimately find themselves in similar circumstances. So, like pawns they blindly do the bidding of those at the top manipulating the public.
Ettenyl56 1 year ago
very good video. Sally mae are crooks and evil
SayNoToBrainWashing 1 year ago
Sallie Mae and those of their putrid ilk are not human. They are not people imo and as such should be treated as subhuman sludge. In short, It's time to roll out the guillotine on these motherf...
WarRogers 1 year ago
The issue in general is sallie mea's corporate liability... they have enough money to pay off lawsuits. They basically pay to brake the law, in order to make a profit. Its twisted... basically legit mafia business in a shadow industry
herbivore007 1 year ago
I contacted Sallie Mae complaining about the high interest they are charging me and they only wanted to deduct .25% if I would enroll in Auto Debit. Yeah Right! I got so mad I wanted them to record what I said (which was not too nice). To think that the USA actually helps third world countries aid yet we native born Americans can't finish our education because of the high interest scam artist like Sallie Mae gives out.
nkjall398 1 year ago
sue em! I hate their company, shame on them for paying off congress and giving bonuses to schools to get students to sign on with them by their financial aid "advisors" and not telling them what their interest will be.
angygrle 1 year ago
I have worked in the student loan industry over 15 years and I am very familiar with this family’s frustration. First let me say that most lending institutions who offer student loans are very meticulous and follow regulations in order to stay in compliance. It sounds as if your daughter co-signed on a private student loan.
K33pitsimple 1 year ago
Federal student loans are not credit or income based they are need based loans. If sallie would have followed protocol and stayed within compliance by contacting the co-signer to verify the validity of the document, this family would not have the problems they are facing. I co-signed on one my daughters private student loans and my mother on my second daughters student loan through sallie mae. Sallie Mae contacted me and my mother by
K33pitsimple 1 year ago
snail mail as well as telephone to verify the validity of the document before processing, this is where I think sallie mae dropped the ball! Typically when a loan document crosses a student loan processors desk there are several identifiers that must be verified. The co-signers date of birth, credit history, and employment history should have raised a red flag! This should have prompted an immediate call to the co-signer.
K33pitsimple 1 year ago
It also sounds like you may want to talk with the young person and her parents who asked your daughter to place personal information on the loan documents. Check to see if legal action can be taken against them as well
K33pitsimple 1 year ago
I am typically a very nice person, but I must comment on xlAmberllx statement. I am not sure if you’re familiar with lending practices and regulations, however I found your comments unwarranted. This is a learning lesson for this young lady and she is very luck to have parents who are looking out for her well being! If you’re angry at the state of the union I am also, so suck it up! However, this family has a legitimate complaint.
K33pitsimple 1 year ago
Comment removed
K33pitsimple 1 year ago
This is why consumer bankruptcy rights should be restore to students on all student loans.
mikehext 1 year ago
Wow, that is HORRIBLE.
mikehext 1 year ago
Help me understand this here. You're saying SLMA only has the endorser addendum on file and that loan was not finalized? It sounds like to me there was only a loan application (with your daughter as an endorser (essentially a cosigner)) and that was never certified by the school.
Is that correct?
johnnyhala 1 year ago
This family is blaming this situation on Sallie Mae, but the fact of the matter is that this young woman willingly gave her info OVER THE PHONE to someone who claimed she wanted to use it as a reference. Personally I have acted as a 'referal' as these people put it and all it takes to be a 'referal' is your name, address and contact phone. NEVER would it ask for your SSN, DOB, Mothers Maiden name; all of which are required to Co-sign.
Face the music.
xllAmberllx 1 year ago
Your daughter need to GROW UP!! Its ppl like you and your daugher that are making the economy so bad!! You say shame on Sallie Mae for 'Letting this happen' to Jasmine, but your daughter is the one who VOLUNTARILY signed the form. Had she READ what she was signing her name to, she would not be a part of this.. People of America, if we EVER want to get out of this economic hardship that we are ALL in together, we need to man up and take care of our responsibilities.
xllAmberllx 1 year ago
@pogijuice9061 THANK YOU! I am so happy to see that Sallie Mae is having its bloodline to corporate welfare curbed. The vampires need a stake through the heart and buried.
SaltWaterDiatoms 1 year ago
Compared to the situation your in I feel as though I shouldn't complain. I used to get calls in the middle of the night and at the crack of dawn and now I'm getting letters. Then I was unemployed and I got fired so now I'm unemployed and unable to pay back anything. I called them to ask them to stop calling and they haven't stoped calling in fact they call more than ever and don't remember anyone calling by my name.
HollyHockAoi 1 year ago
You dont have to worry about this anymore salliemae centers are closing I hope your happy.
pogijuice9061 1 year ago
They have done this to many people; your daughter is not the first. You might as well FIRE YOUR LAWYERS and start paying the loan, because you are going to wind up paying an additional $30,000 to the lawyers in addition to having to pay the Sallie Mae loan your daughter signed. Your lawyers should be ashamed for leading you to believe you have a winnable case. You don't.
vanorenstein 2 years ago
Comment removed
vanorenstein 2 years ago
You are mad at the wrong party. You should be mad at your daughter & her friend. Being such a great parent, teach your daughter that references never sign anything. I myself cosigned a Sallie Mae loan. I read the document that clearly said "Endorser Application". I also received several letters from Sallie Mae throughout the process, some telling me that I could remove myself as an endorser before the money was sent out. It appears that your daughter is not telling you the complete truth.
Speakmymindtoday 2 years ago
4:53 your daughter admitted to signing the document that said endorser. This is her own fault. I believe that if this is taken to court the only outcome will be that the judge advises your daughter to read and understand what she is signing. On the form she signed it says " Think carefully before signing, if the borrower does not pay as agreed in the terms, it will be your responsibility to do so". It doesnt get much clearer than this. Although she didnt read this, its not the companys fault.
msn4289 2 years ago
Im really sorry but Sallie Mae operates in conjunction with the government in a socialistic system. They deal with federal loans that are guaranteed by the government there is little incentive for them to resolve issues which may result in a default. This is because in the event of a default the government pays them principal plus interest. At this point they are also granted rights to act as a collection agency for the gov. (where they make more money)
Note, the ceo is worth .25 billion dollars
aaronbassplyr 2 years ago