Consumer complaint received 2025-06-04 00:00:00
Product: Student loan — Private student loan
Issue: Struggling to repay your loan — Can't get other flexible options for repaying your loan
Company: SLM CORPORATION
State: LA

Complaint narrative:
Complaint Summary : Sallie Mae Private Student Loans Throughout XXXX XXXX XXXX XXXXXX/XX/XXXX, I contacted Sallie Mae multiple times to resolve XXXX private student loans, now totaling {$110000.00}. I offered a lump sum settlement of XXXX XXXX XXXX  %, backed by industry research and rooted in XXXX financial hardship. The source of the offer was a family home sale, which I explicitly told them was meant to help stabilize both my family and me. 

Sallie Mae rejected the offer outright and countered with a 90 % lump sum demand - essentially full repayment. XXXX representative even laughed at the proposal. They refused to even begin discussing a potential settlement until after I had access to the funds, which was not only manipulative but led to a loss of negotiation leverage. When no offer was extended after follow-up, I moved forward to settle federal loans, relocation costs, and credit card debt XXXX days later - urgent obligations tied to basic survival and stability. 

I also inquired about rollback options to prevent default. I was told Id need to pay {$1200.00} across all loans, or XXXX XXXX for the largest, which I simply can not afford. This is a debt trap. I had been paying Sallie Mae on my credit card in XXXX and early XXXX just to delay default - deepening my financial hole based on false hope that a reasonable settlement could be reached. 

Loan Overview ( as of XXXX XXXX XXXX  ) : Loan XXXX ( Co-signed by XXXX father ) : {$49000.00} | Amount Due : {$2800.00} Loan XXXX : {$34000.00} | Amount Due : {$1800.00} Loan XXXX : {$18000.00} | Amount Due : {$960.00} Loan XXXX : {$14000.00} | Amount Due : {$720.00} Total Balance : {$110000.00} All loans are past due by XXXX days. 

XXXX XXXX XXXX XXXX is co-signed by my father, who is XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXI requested and received Sallie Maes cosigner release form. However, their eligibility requirements create a dead-end : They require that no hardship relief was used in the past XXXX months. 

I exhausted all hardship programs between XXXX, as verified by Sallie Mae. 

No hardship help is currently available - so I am disqualified from release for not receiving help I was denied. 

The other XXXX loans are co-signed by my now-deceased grandmother, making me the sole borrower left to pursue. 

Financial and Family Circumstances In addition to working full-time, I serve as the primary caregiver and financial provider for my family : Prior to the house sale, I paid for our mortgage, medical care, utilities, and emergencies. 

XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX 

We are only stable today because I built a budget that excludes Sallie Mae. Not because I refuse to pay, but because if I do, we lose housing and security. 

The Core Issue Sallie Maes system is broken : They disbursed loans that were grossly unaffordable with no realistic path forward. 

They exhausted all hardship options without offering any recourse or plan. 

They expect full repayment or default - there is no middle ground. 

Their cosigner release criteria are self-contradictory and punitive.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with non-monetary relief