Consumer complaint received 2025-07-28 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:
Product : Private student loan Company : Sallie Mae Bank Problem : Incorrect information on loan terms/ misleading or unfair servicing Loan Origination Year : XXXXXXXX XXXX  Complaint Summary : I am filing this complaint due to multiple unresolved issues with Sallie Mae that have affected the servicing, repayment, and transparency of my private student loan. These include misleading information about returning unused funds, misapplied payments, unauthorized auto-debit activity, lack of proper written communication, and unjustified penalties that continue to harm my financial standing. 
XXXX XXXX. Misleading Information About Loan Return Period When I first took out the loan in XXXX, I was told by a Sallie Mae representative over the phone that I could return unused loan funds. My understanding at the time was that I had 90 days to partially return unused loan funds from the date I received the loan. Based on this, I attempted to return a portion of the funds I never used by submitting payments through their website within that time frame. However, Sallie Mae later informed me that these were processed as loan payments and not as returns, meaning they were not applied toward reducing my principal the way a return would be. 
Before submitting the payments, I searched their website but found no clear return option and no dedicated section explaining the process or deadline for returning funds. I only learned much laterafter trying to reverse the paymentsthat it was supposedly too late ( more than 6 months had passed ). I believe this was a result of poor communication and lack of transparency, and I was never properly informed in writing of these conditions. 
XXXX XXXX Attempts to Resolve Issue Were Dismissed I first brought up the return/payment confusion around XXXX XXXX  and attempted to resolve it through email with Sallie Mae . I never received a clear resolution or written documentation. Despite my efforts, all communication was verbal. The representative over the phone communicated that he tried to resolve the issue on my behalf but failed. There was no follow-up in writing to explain their decision. 
XXXX XXXX. Auto-Debit Misconduct and Financial Harm In XXXX of XXXX, I became unemployed. I contacted Sallie Mae in XXXX through their online chat system, explained my unemployment and that I was staying at a friends house temporarily, and was told I could delay payments until XXXX. At that time, my auto-debit amount was set to $ XXXX, and this amount was successfully withdrawn at least once. 
Without any warning or explanation, Sallie Mae suddenly withdrew the full monthly payment amount in XXXX, instead of {$5.00}. This caused me financial harm, so I reversed the charge through my bank. Sallie Mae has since claimed that I am late on my payments and is now demanding double the payment in XXXX. I was never informed of any change in terms or that the {$5.00} auto-debit would become invalid. 
XXXX XXXX  Communication Breakdown and Lack of Transparency Due to prior unhelpful phone conversations, I submitted a formal email-only communication request to Sallie Mae XXXX XX/XX/XXXX and blocked their number afterwards. I have received no written responses since. Their failure to communicate clearly and respectfully in writing has left me unable to track or understand key aspects of my loan, including how interest and fees are being calculated.

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