Consumer complaint received 2024-09-12 00:00:00
Product: Student loan — Private student loan
Issue: Dealing with your lender or servicer — Received bad information about your loan
Company: SLM CORPORATION
State: OH

Complaint narrative:
XXXX. Sallie Mae Bank is stating that I cosigned for XXXX loans. Totaling {$60000.00} a. I recall the first loan as I have an email requesting me to be a cosigner in XX/XX/XXXX under my current legal married name ( XXXX ) in the amount of $ XXXX and have made arrangements to pay this one. Due to me knowing about the loan terms, however based on more reviewing Im unsure if I signed off on the final loan disclosures or if this information was just discussed with my daughter because she was home from college on break. 
b. XXXX XXXX created using my previous married name ( XXXX ). XXXX XXXX, XXXX, in the amount of $ XXXX XXXX XXXX loan created XXXX XXXX, XXXX ( XXXX ) in the amount of {$12000.00}. Fraud paperwork sent to me states that the original loan amount is {$17000.00}. 
XXXX. Began receiving phone calls XX/XX/XXXX and up to XX/XX/XXXX received over XXXX calls from Sallie Mae. 
a. Spoke to them on XX/XX/XXXX and they stated all XXXX loans were late and if I wanted to make arrangements. 
XXXX I requested documentation on XX/XX/XXXX and initially they told me I could create an account or log in to get the documentation I was looking for. I stated that I would not be creating an account and that I wanted the documentation to be sent to me in the mail. 
c. I answered their repeated phone calls again on XX/XX/XXXX and asked where my documentation was, and they stated they were working on it. Received documentation around XX/XX/XXXX. Paperwork stated it was issued XX/XX/XXXX. 
i. Each loan application and final loan disclosure form are at least a day or XXXX apart with loan ending in XXXX stating my previous married name on it. When I pointed this out to Sallie Mae to get them to investigate the fraud department stated that this was just a clerical error. If I was able to view the actual loan documents and approve the loan terms this would have been caught. 
XXXX. Spoke to the fraud department at Sallie Mae and they stated that if these were not my loans, I would have to file a police report for fraud as they would not investigate without it and wasnt she my daughter. However, they would send me paperwork to complete and to send back a copy of the police report. 
a. Once I received the fraud paperwork, I reviewed it and it stated the XXXX loan was for a different amount than the loan disclosure paperwork they sent me. Total states {$17000.00} instead of the {$12000.00} XXXX. During this time, I have received correspondence in the mail from Sallie Mae beginning in XXXX stating that these loans were past due and to contact them. The only thing stating the amount owed were the loan disclosures that I requested that was to be the total of the loans. 
a. The first correspondence in XXXX indicated only the first loan ( XXXX ). I did not do anything with this as I thought my daughter would manage even though I had not spoken to her since XX/XX/XXXX and had no way to contact her. Nothing indicating amount due. 
b. In XXXX I received another letter from Sallie Mae stating that I needed to contact them on XXXX different loans ( XXXX, XXXX, XXXX ) and that loans were past due. Up until this I had not received any communication in the mail stating that there were XXXX loans. 
c. None of the correspondence received in the mail indicated an amount until a letter was sent XX/XX/XXXX stating that I owed {$1400.00} on loan XXXX and had until XX/XX/XXXX to make arrangements or loan would default. I contacted them on XX/XX/XXXX and made arrangements for this XXXX loan ( XXXX ) and while on the phone they stated the amount now owed was {$1800.00} due to loan rolling into the next month. 
i. Payment arrangements were made for XXXX payments for XXXX, XXXX & XXXX for loan XXXX due to I told Sallie Mae that I was aware of this loan and the loan terms. 
ii. Sallie Mae took out XXXX and XXXX payment however they sent a letter in the mail dated XX/XX/XXXX stating that I had to pay them $ XXXX again by XX/XX/XXXX or loan would default. Contacted them XX/XX/XXXX and they stated that the XXXX payment was rejected and was probably due to lack of funds. I verified that there was enough to cover this payment if they had attempted to take payment out however my bank has reviewed and there is not any indication that a payment was attempted. 
d. XX/XX/XXXX received a letter stating I needed to make arrangements on loas XXXX and XXXX, or they would default XX/XX/XXXX. Total amount that was due was {$2500.00}. 
i. Loans XXXX & XXXX have defaulted as I have no knowledge of loan terms or signing off on the final loan disclosure forms. Nor can I make payments on XXXX different loans that will take up over 50 % of my income when you just take into consideration my car and house payment expenses ( note these are not anything new as I had these payments before these loans were issued ). 
XXXX. Phone calls have almost ceased when I confronted them on XX/XX/XXXX about the excessive phone calls except when they contacted me on XX/XX/XXXX on my personal cell phone and immediately called my work and then once I answered phone and they gave me the spill of who they were they preceded to state that they were trying to contact my daughter even though I answered phone stating who I was and information is on the application that they sent me. 
I don't have documentation or emails indicating that I created an account to sign off on the final loan disclosure paperwork. I was assured of just this XXXX by Sallie Mae that the cosigner had to create an account to sign off on the final loan disclosure forms in order for the loan to be approved and that I would receive an email once I created an account. When I then proceeded to tell them that there were XXXX loans in my name and that I didnt receive an email with username they then told me that is why they urge you to write this information down, so we have it for our records. I then requested if they could look up if I had a username and they provided me with one. This username isnt anything that I would have created on my own I believe as the numbers that were used to create this account have no meaning to me and I can not locate anything in my emails indicating that an account was set up for me. 

Since Thursday XX/XX/XXXX after speaking to Sallie Mae and how they accused me of not having the funds to cover the payment I arranged with them I have went online and reviewed all payments and history to the college my daughter attended. According to the statements from the college the total for all XXXX years at the school was {$180000.00} according to the billing statements but the payments were to be {$190000.00}. However, when you review the actual payment history it is showing that the school received {$200000.00} with Sallie Mae paying {$67000.00} of this. On top of that there is an account summary that is showing payments of {$200000.00} were received to the school. But when looking at the account summaries there appears to be refunds listed under the charges instead of debiting from the statement and no indication as to where these refunds were issued to, and I have reviewed everything on the account summary pages. 
The final loan disclosures from Sallie Mae show that there should have only been a total of XXXX paid out to the school but payments show over $ XXXX. However, with grants, scholarships assistance and the federal student loans the only amount that should have been issued from Sallie Mae was a total of {$47000.00}. Where would this other $ XXXX gone to? There isn't any indication in the payment history where this was applied to or who the refunds went to. However, when speaking to the school they stated that it should have been issued to the student by either paper check or direct deposit. How is it ethical for the school to accept additional funds and if loan company is able to give beyond what they actual cost of the school is on the billing statements?

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