Sallie Mae

Discussion in 'Homesteading Questions' started by cathyharrell, Sep 9, 2005.

  1. cathyharrell

    cathyharrell Well-Known Member

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    Deb, Robb's name is on the check and he always writes both account numbers on it. Sallie Mae hasn't sent me any payment coupons in a good while. Yesterday when Robb called he asked me if they had sent me any. He only has the payment coupons with his name on them. Thanks, Cathy
     
  2. marvella

    marvella Well-Known Member

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    beware if you make a late payment also.

    they put all the payments into one, but if a payment was late, they report it the number of times you took out a loan, on your credit report. for example i took out loans for 4 years until i graduated. they put all the payments into one, but if it was late, they reported is as 4 loans being late. sneeeeeaaakkky. :grit:

    took me forever to get it off there. my credit was in the toilet for a while, just because of this.
     

  3. tooltime

    tooltime Border Ruffian

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    Cathy,

    You might want to look into online payment through the salliemae.com site. There, you can indicate each loan and make payments on each. (Even if you do not decide to pay online, it is worth registering for this site because all of your account information is directly accessible.)

    Similar case happened to my wife a few years ago. Three student loans, one monthly bill. Monthly payments applied to two of three loans, so her credit report showed late payment, but she disputed that and was corrected.

    Also be careful regarding the partioning of payments across loans. Unless you specify otherwise, my wife's experience was that amounts paid in excess of minimum were applied to the lowest interest rate loan first. (Yet another reason to pay online and direct amount to separate loan groups.)

    This happens some times when loan originators resell loans as well.
     
  4. cathyharrell

    cathyharrell Well-Known Member

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