Student Loan Scams 1 – Sallie Mae, Part 1
Sallie Mae is the largest student loan company. We look at a 60 Minutes report on Sallie Mae and how Sallie Mae, with the help of government, makes a lot of money off of student borrowers.
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Sallie Mae is the largest student loan company. We look at a 60 Minutes report on Sallie Mae and how Sallie Mae, with the help of government, makes a lot of money off of student borrowers.
I just got off the phone with Sallie Mae..once again. Despite my specifically requesting that my additional $200 payment be applied strictly to principal and principal alone, they continually apply it to interest despite my also sending a monthly automated payment to cover the regular payment. I am SO FED UP with their LEGAL SCAM. I can not WAIT until the banks get back on track and start offering personal loans at reasonable rates. I’ll immediately take out a five year loan and pay off S&M.
45k to 103k? It’s not rocket science. It’s called in-school deferment. And then you became so delinquent you allowed your loans to default? This is not Sallie Mae, this is the nature of any Stafford loan, federally guaranteed, no matter what lender you get it from. (I assume it’s a federally guaranteed loan and not a private loan)
Burn down Sallie Mae!
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Excellent Videos man, I really Appreciate it.
@Jessecraft1954 Hell you posted this a year ago, but Bush had nothing to do with this. The cause of these types of corporations are The Federal Reserve and The International Monetary Fund. This company was set up as a GSE. A government entity !!. And low and behold your scapegoat Bush was nowhere around. Like KRS-One said you need to talk to the franchise owner and that is big banks.
Are there any alternatives from Sallie Mae for a student to borrow without crazy interest rates and unexpected “surprises” once I have to start paying back?
@Jessecraft1954 not to mention that bush was a “legacy” student–meaning, his dad’s attendance assured him admittance into yale.
i don’t agree with not going to college. an educated society only adds to its progress. but, it is eye-opening to realize that sallie mae is no longer affiliated with the government. shocking!
My student loan lender is Wells Fargo, is that different from Sallie Mae or same the same crap.
This is absolutely true! Sallie Mae is complete & utter BS!
When all things fail, join the Military.
“A fair shake or a shake down?” LOL I was smart enough not to go to college but now I might go to just to take out a loan from them.
After I got the money I bet they would never see me again. Lol
I have 3 college degrees, `10 years of college, and worked more than 10 years as a college instructor – teaching morons who couldn’t read past the 5th grade level! DON’T WASTE YOUR MONEY OR YOUR TIME GETTING A UNIVERSITY DEGREE IN THE U.S.! Your government is encouraging companies to send jobs to other countries, regardless if they are our enemies or not.. Our government is steadily eliminating all of the achievements the unions made during the past century to improve the conditions of workers.
It f’n sucks the hardest working people, the nicest people, and some of the smartest people are absolutely crapped on. Isn’t it funny how stupid the people that run our country are. Just look at Obama right now, he says lets try to get this country out of some of this debt we are in, meanwhile he is spending millions upon millions partying and making unnecessary trips. Here I am barely making over minimum wage and I got myself out of 50,000 dollars of debt. I’m not just bashing Obama either.
Hate sallie mae paid seven months just for interest thats at 6% (nothing right???) after the seven months I have been paying 3X the minimum and it has not gone down what so ever in the past two years and I am not working at this time I dont understand how I have a credit card at 27% interest I paid off but cant pay off my loan at 6% ????
@thebookwormh2o Private loans can only be consolidated by other private loans. The rules for public loans don’t apply to private loans.
I normally have to pay $110 every month. Now I got a letter in the mail, Sallie Mae TELLING ME to pay $400 and something dollars, regarding my private loans. What the hell is that? Anyone know any companies that will help consolidate my private student loans?
I apparently have a loan thru sallie mae. I never approved or opened this loan! It was opened by someone who stole my ID and opened when I was still in highschool! I have been working with sallie mae for 5 YEARS! And NOTHING has been done! They keep me running in circles and refuse to believe police reports. I hope they go bankrupt! They are all a bunch of damn idiots!
Looks like President Obama has put the brakes on the Sallie Mae scam. They are going to lay-off 2,500 loan sharkes I truly hope the company goes bankrupt.
REALLY, YOU`RE A FUCKEN IDIOT !!!!
REALLY, YOU`RE A FUCKEN IDIOT !!!!
fuck sallie mae they will never get anything from me
fuck you pussy there something called called interest
@sdguy1234
Listen, idiot, unless you’re born filthy rich, there is almost no way to avoid student loans in college to get teducated for a career. I’m one of the few who graduated loan-free, but I worked 20 hrs/week in a modest-difficulty major with scholarship. Very few students are so lucky, esp if they go into demanding majors w/o spare hours for jobs.
The rest of civilized world has enough common sense to ensure students finish debt-free, another reason why US is newest banana republic.