Sallie Mae | Giftie Etcetera: Sallie Mae

Friday, January 4, 2008

Sallie Mae

I know I complain alot about things that drive me crazy. But that's what my blog is for, right? Throwing stones?

Today's stones are headed for Sallie Mae.

Ms. Mae made an agreement with us that we would receive a rate reduction upon timely payment of our loan for 48 months. This is month 49, with every payment timely, and no rate reduction was applied to our account. Alan wrote to the company.

After Hurricane Katrina, we, the residents of Baton Rouge who didn't need it, were automatically granted a 6 month forebearance. We had no choice in the matter. Interest was still collected during the forebearance period. In addition, we continued to pay our bill in a timely manner. That's right - we skipped no payments, even though we could.

Ms. Mae will not count those payments during the mandatory, not-agreed-to-by-us forebearance period towards the discount. Oh, and the time it takes to fight this stupid policy of not counting our payments towards the discount because of something Ms. Mae did on her own and without our request or consent...worth more than the value of the rate reduction. So we lose money if we fight the policy.

Ms. Mae is a very bad lady.


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