Consumer complaint received 2022-02-14
Company: SLM CORPORATION
State: MD
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

Complaint:
I've previously submitted a complaint regarding this account before. It was not resolved satisfactorily. It even wasn't addressed at all by the lender or the CFPB. In the coming years, I know this lender 's administration of it loans and collection practices will be scrutinized and found to be at least predatory and at best illegal. My loans were on an interest only graduated repayment plan for approximately 12 months. In XX/XX/XXXX I was notified that my loans would go into full interest and principal repayment in 30 days beginning XX/XX/XXXX, meaning that my monthly payment would go from {$190.00} to $ XXXX that I was on a graduated repayment plan, had expected the payment to increase but to go up gradually not to the full P & I repayment amount. I have never been late with a payment to Sallie Mae so I was surprised. I called Sallie Mae a few days before the payment was due in XXXX to say that I couldn't pay the {$830.00} and could I make a payment arrangement. The agents I spoke with advised that I couldn't because " the system '' wouldn't allow them make an arrangement and they didn't know why but to let the loan go a few days past due and then call back. I called back a week later to see about arrangement, again nothing. I called a week after that, nothing. I filed a complaint. And since that time, I've gotten recorded phone messages with a call back number, E-mails and letters indicating that I can go into a repayment plan to get back on track. When I call the number from any of these communications to get into a plan, I'm put on hold for HOURS. The first time 1.5 hours. The second time, a week later, more than 2 hours and then the call just hung up on me. On one occasion, I spoke with someone in some department that is not the department that is able to help me and was told my monthly payment due is now {$840.00} because my loans have a variable rate. That is not reflected on my online account. Also, how is any of this graduated, going from {$190.00} to {$830.00} to {$840.00} on a mystery variable rate with no notice? I can not imagine a more effective way to deliberately push a borrower that is current and in repayment into collections and into poor credit ratings than to with one month 's notice, quadruple their loan payment, offer no explanation as to why a more reasonable payment arrangement can't be arranged particularly given that a payment arrangement has been previously made and kept and the borrower is a on a GRADUATED repayment plan, and then when the borrower repeatedly calls to make some sort of arrangement to 1 ) refuse to be able to do so and 2 ) otherwise put the borrower on hold unable to reach a rep each time they call.This is deliberate. This a deliberate attempt to purge people off a current status and into debt collection. I've never heard of anything like this with any legitimate financial institution. I have never been late with Sallie Mae. I have never not been able to contacted by Sallie Mae. The adjustment in my repayment profile is literally designed to keep me from being able to pay. Not to mention all of this happened at the same time that Federal loan repayment was being commuted. I wasn't asking to have my payments paused. I was asking to continue my current arrangement or make an arrangement that I could reasonably afford and Sallie Mae has either flat out refused or effectively refused by making it impossible to communicate with them.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation