Consumer complaint received 2026-05-29 00:00:00
Product: Student loan — Private student loan
Issue: Dealing with your lender or servicer — Trouble with how payments are being handled
Company: SLM CORPORATION
State: UT

Complaint narrative:
Today XXXX XXXX XXXX Automated Advisor joined XXXX XXXX As you input your personal information, we want you to know that we take protection of your data seriously. To learn more about how we collect, use, retain and disclose your personal information, please see our Online Privacy Policy. Welcome to Sallie Mae Chat! I'm your Automated Advisor. Thanks! Ill connect you with a specialist who can help. This is an attempt to collect a debt and information obtained will be used for that purpose. XXXX Our company address is XXXX XXXX XXXX, XXXX, DE XXXX Automated Advisor XXXX XXXX Transfer requested at XXXX XXXX We're connecting you to an agent. Your estimated wait time is 1 minute. XXXX XXXX XXXX Automated Advisor left XXXX XXXX XXXX XXXXXXXX joined XXXX XXXX I am currently enrolled in school and have a deferment letter. As well as that I can only afford {$50.00} a month to get my account back to normal. Sent XXXXXXXX XXXX XXXX Hello XXXX XXXX, thank you for contacting us todaythis is XXXX XXXX ( XXXX ). Before we get started, please note that youre not required to reveal alimony, child support, or separate maintenance income if you do not wish to have it considered as a basis for loan repayment. I do want to make you aware that your account is currently 132 days past due, with a total amount due of {$940.00}. I understand situations can come up, and Im here to work with you. Have you submitted an In-School deferment form? XXXX XXXX XXXX No but I can, but Id rather start working on pay. Sent XXXX XXXX XXXX I understand you would rather payment. I a payment of {$150.00} would need to be made by Sunday to prevent default on the loan. Are we able to schedule this payment? XXXX XXXX XXXX No I can only afford {$50.00} Sent XXXXXXXX XXXX XXXX I understand, are you able to borrow the remaining amount? XXXX XXXX XXXX What? No. I have no one I could borrow from Sent XXXX XXXX XXXX I understand, but that full payment would be required to prevent default. XXXX XXXX XXXX Thats impossible for me. Do I not have any more deferment months? Do you not do hardships? I'm reaching out because I'm facing financial hardship and can not afford my current monthly payment of {$150.00}. I can only afford $ XXXXmonth at this time. I want to avoid default and am committed to staying in good standing. Can you please let me know what hardship programs, reduced payment options, forbearance, or temporary payment arrangements are available for my account? I'd like to find a solution today if possible. Sent XXXX XXXX XXXX We do not offer hardship deferments. We do not offer income based programs and programs do require payments to enroll. XXXX XXXX XXXX I also want to mention that I did not graduate. I left school without completing my degree, so I never received the income benefit the loan was intended for. Does my status as a non-completer affect my eligibility for any payment relief or deferment options? Sent XXXX XXXX XXXX No it does not affect eligibility for a repayment options, the funds were sent to school whether you complete it or not it doesn't affect your eligibility for repayment options. XXXX XXXX XXXX I understand. So to be direct if I genuinely can not pay {$150.00} this month and can only pay {$50.00}, what specifically happens next and what options do I have? I am not trying to avoid paying, I just physically do not have {$150.00}. Is there anything at all you can do on your end, even a one-time exception or payment arrangement? Sent XXXX XXXX Your loan will default at the end of month and the next steps could follow. o We may report information about your account to the XXXX XXXX reporting agencies. o If your loan defaults, it may be reflected on your credit report for up to seven years. o Once the account has defaulted, the Current Balance will be due immediately. o You will no longer be eligible for certain Sallie Mae repayment programs and offers, such as the ability to bring your loan ( s ) current using forbearance. XXXX If your loan defaults, your loan may be sold to a debt buyer for continued collection activity, which may include pursuing legal action. XXXX XXXX XXXX You just told me that forbearance is a program I lose access to once I default. That means forbearance IS available to me right now, before default. I am formally requesting forbearance on my account today to prevent this default. Can you please apply forbearance or connect me with someone who can? Sent XXXX XXXX XXXX With a forbearance you will need to make a payment of the past due amount to enroll. If you are eligible for a forbearance it does not pause the payments just brings the account current you will resume your normal payments. If see if you are eligible please click the link View Article XXXX XXXX XXXX Since no options have been made available to me to prevent this default, I will be filing a complaint with the Consumer Financial Protection Bureau ( CFPB ) today. Please note this conversation as part of my account record.

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