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Sallie Mae is a bad, bad girl

December 12th, 2007 at 03:33 am

So my final payment to Sallie Mae was finally processed after 4 days. Unfortunately, they also processed my regular automatic payment. So I have a credit sitting in my account that they refuse to return to me until they finish "processing" my loan. In 30-45 days! Never again.

As well, they always credited my extra payments that I sent through the mail to interest as well as principal. Now I'll pay the principal online and save myself the postage. My graduate school loans aren't to be in repayment until six months after I graduate at the end of 2008.

4 Responses to “Sallie Mae is a bad, bad girl”

  1. Amber Says:

    30-45 days? It amazes me that when these big companies owe you money they take their sweet little time but if the shoe is on the other foot you get hit with all kinds of charges; that suck

    What graduate degree are you seeking?

    oh I forgot happy belated birthday Big Grin

  2. luxliving Says:

    Sounds like you and Broken Arrow here in the Saving Advice blogs would have a lot in common. He's down on Sallie!

  3. Dmitry Says:

    It occurs to me when you overpay Sallie Mae, and they hold your money (esentially they owe you), you should be able to report them as a debtor account to the credit agencies. If they don't pay you, aren't they now the deliquent debtor?

  4. Amber Says:

    Wouldn't it be nice to report the banks when they owe us

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