Consumer complaint received 2024-10-22 00:00:00
Product: Student loan — Private student loan
Issue: Struggling to repay your loan — Can't temporarily delay making payments
Company: SLM CORPORATION
State: CO

Complaint narrative:
I took loans out from Sallie Mae for my XXXX degree ( BS in Biology ) at XXXX XXXX XXXX  [ XXXX ]. I have a total of XXXX loans with Sallie Mae, my grand mother insisted that I use Sallie Mae as a lender as she stated, " Everyone uses Sallie Mae. '' I trusted my grandmother as she is my grandmother. My goal post graduate was to gain acceptance to a XXXX XXXX XXXX XXXX so that I would have financial security, could advance in healthcare, and have work life balance along with a salary that would allow me to pay off my student loans. I was unable to gain acceptance to a program right after I graduated my XXXX degree, so I took courses through the XXXX XXXX XXXX to improve my GPA and make me a competitive applicant. I was able to attend the XXXX XXXX XXXX on the XXXX XXXX Tuition Waiver as I am XXXX XXXX  and was able to use the waiver at any XXXX XXXX XXXX system. Unfortunately, I did not gain acceptance to a XXXX  program until XX/XX/XXXX with a start date of XX/XX/XXXX. Between the dates of XX/XX/XXXX and XX/XX/XXXX I worked at my local XXXX and went to school part time to continue to make myself a better applicant for a XXXX program. During the dates between XX/XX/XXXX to XX/XX/XXXX, I had to defer my Sallie Mae loans as I was not making enough money for my variable interest rates while I was also in school working towards my goal of becoming a Physician Assistant. My Sallie Mae loans accrued interest ( a few loans at fixed rates and a few loans at variable rates ) between the time I took them out to today. I owe significantly more than I originally took out ( which I understand as that is how interest rates work ). 

I am currently a student at a XXXX XXXX program and I am half way through the program. I have roughly another year and a half before I graduate the program. I received a scholarship through the school and use XXXX to cover my living expenses as I am a XXXX XXXX XXXX ( as every one else in my class does, as we are highly discouraged from working in order to be successful ). I received an email that my Sallie Mae loans were past due ; however, I was under the impression as I am in school my loans are deferred. I called Sallie Mae to let them know I have been in school since XX/XX/XXXX and will continue to be in school until XXXX of XXXX. They told me that my " 48 months of deferment were up '' and that I need to make a payment in order to avoid my loans going to collections. I let them know I was unemployed an unable to make any payments. The lady said on the phone she would collect some of my data and see if there were any programs available for me... she asked about my income to which I said {$0.00}. She then said there were no programs available and that she could not help me. I asked her what I should do to which she said I had to make a payment ( which is $ XXXX this month - which is the base monthly payment of ~ {$1700.00} + a late fee ) or my loans would go to collections and Sallie Mae would try to contact myself and my grandmother to try and make these payments. I have no way of making money to pay my monthly payment for these loans while I am in school and neither does my grandmother. If these loans go to collections, I will be unable to use the XXXX to get a grad plus loan to pay for my living expenses- which would mean I have to drop out of the program that I have worked hard getting into along side becoming homeless and attempting to drive back home to XXXX. Without my degree, I will not be able to make a salary that will allow me to pay my loans. I am at a loss of what to do as Sallie Mae has offered me no options and will not extend my deferment.

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