Consumer complaint received 2022-10-19
Company: SLM CORPORATION
State: NY
Product: Student loan
Sub-product: Private student loan
Issue: Struggling to repay your loan
Sub-issue: Problem lowering your monthly payments

Complaint:
I filed a complaint with the XXXX  and the CFPB and nothing was done. These agencies allow predators like sallie Mae to get away with harming people. 

This is my response and an additional complaint because the company is lying in their response to my complaint. 

So it seems now that they are apologizing for confusion. This is a very classic tactic used by corporations when they are cited using unscrupulous practices. Their idea of a resumption plan was to get someone else on the hook for paying for the loan, NOT to have someone help me this is a blatant lie and I want the recording of the conversation sent to me and regulators. The very CLEAR comment was to ensure YOU get paid, not to help anyone. I specifically told you that I am picking up more shifts at my XXXX jobs even though I have long Covid AND am going to school XXXX XXXX so that I can graduate THIS YEAR. After THIS YEAR I will be able to get a full time employment as I will have graduated from XXXX XXXX with a high gpa and have extensive prior work experience and success. The company didnt care about that. They wanted their form of a resumption plan ( read extortion ) so that they can get more people on the hook for loans. This is predatory and Im appalled that this is allowed. There was a MAJOR lawsuit that sallie Mae lost with XXXX that was pretty enlightening. I would suggest that the CFPB look into how many people have been roped into this resumption plan and have been harmed by sallie Mae when they needed help. The representative on the phone told me that sallie Mae didnt used to force people to have a resumption plan to get help on loans but now they want to be sure to be paid. Essentially, instead of helping someone who is in a temporary situation, they are only interested in destroying their credit first so that they can force them to pay. This is legal loan shark type behavior and is XXXX of the reasons sallie Mae is a MAJOR part in the student loan crisis we have right now. There are many people that confuse this loan shark with federal loans. I didnt realize this until I was asked about it by a person who misunderstood. How many others have they caused confusion for and are hiding behind this nonsense about disclosures and the legalese? Its always the individual to blame with these predators, never that they have predatory and oppressive practices that are meant to exploit people instead of making money with any form of integrity. If this company is correct than, my resumption plan that I provided to them then as well as stated now should be more than sufficient to help me with payments. If they do not, it will be clear that they are lying. I will be filing additional complaints to more regulators and lawmakers. This is not acceptable and I have the privilege to stand up to these bullies so I will. This {$100.00} per month you are holding over my head is nothing compared to the marketing dollars you will have to spend in order to deal with my exposure of your abusive practices. This letter that was a response was an insult to me and anyone else that has asked for help. I am now demanding that there be some mitigation for me and my co-signer who are very clearly having temporary trouble and are working out ways to get into a better financial position.

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