Consumer complaint received 2025-07-17 00:00:00
Product: Student loan — Private student loan
Issue: Struggling to repay your loan — Problem lowering your monthly payments
Company: SLM CORPORATION
State: TX

Complaint narrative:
Thank you for the additional details. Here 's your * * updated and expanded CFPB complaint draft * * with stronger language and inclusion of all the facts you've shared, including credit damage, unauthorized deferment, mental stress, and lack of transparency. 

-- - * * Subject : * * Formal Complaint Against Sallie Mae Unethical Loan Servicing Practices, Refusal to Provide Relief Options, Unauthorized Deferment, and Credit Damage * * To Whom It May Concern : * * I am filing this complaint regarding Sallie Maes continued * * refusal to work with me to reduce my monthly student loan payments or interest rate * *, despite having a strong credit score at the time of my requests and clear financial hardship. 

At the * * end of XXXX XXXX XXXX, I began contacting Sallie Mae after learning that my monthly payments would be * * \ {$630.00} * *, an amount I simply could not afford. Despite having a * * credit score in the XXXX * *, I was * * repeatedly told that Sallie Mae had no options available * * to help me. I explained my hardship and asked for a lower monthly payment or lower interest rate. Instead of assistance, I was told * * I would have to wait until I went into default * *, and * * only then would Sallie Mae be able to " help me. " * * This advice was not only shockingit was irresponsible and felt predatory. Since that time, * * my credit has dropped into the low XXXX * *, and the * * mental and emotional stress * * caused by this process has been overwhelming. 

I spoke with a Sallie Mae representative again * * today * *, after weeks of calling and long wait times. During a * * 2-hour phone call * *, I was informed that * * my account had been placed into deferment without my knowledge or consent. * * I never authorized this deferment, and I was not given any notice about it. 

Even worse, I was told that because my account is now in deferment, I must * * restart the entire process of default * * once deferment ends * * further damaging my already suffering credit * *. This is completely unfair and has placed me in a worse position than when I originally called seeking help. 

To make matters worse, I am currently incurring * * over \ {$400.00} in interest charges every month * *, further increasing the burden of this loan and making it even more impossible to recover financially. 

I asked the representative how Sallie Mae determines whether someone qualifies for lower payments. She simply responded, * * the system tells us. * * When I asked what reasons I was previously denied for payment assistance or a better rate, she stated they * * had no information or record * * of why I had been rejected in the past. 

This lack of transparency, combined with misinformation, unauthorized account changes, and denial of reasonable accommodations, is unacceptable. I believe Sallie Maes actions may be in violation of : * * * Fair Credit Reporting Act ( FCRA ) * * For negatively affecting my credit through improper servicing practices.

* * * Truth in Lending Act ( TILA ) * * For failing to clearly disclose loan terms and interest accrual.

* * * Consumer Financial Protection Act ( CFPA ) * * For engaging in deceptive, unfair, or abusive acts or practices ( UDAAPs ). 
* * * State and federal consumer protection laws * * related to loan servicing and misrepresentation. 

I am requesting the Consumer Financial Protection Bureau to investigate Sallie Maes handling of my account, and to ensure that I am given a fair and reasonable review of repayment optionsespecially before default or further damage to my credit can occur. 

Thank you for your attention to this matter.

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