We started this site
because of our own issues with Sallie Mae. They even tried to
shut the site down. Unfortunately for Sallie
Mae their attorney's weren't bright enough to grasp the
concept of free speech (more on this later). Below is a
little bit of information about Sallie Mae, Enjoy.
Sallie Mae, "SLM Corporation" began in 1972 as a
government sponsored enterprise. The
company began to privatize its operations in 1997 and since the end of
2004 it
has been a private entity. Sallie
Mae is
the country's largest originator of federally insured student loans and
primarily provides federally guaranteed student loans originated under
the
Federal Family Education Loan Program (FFELP).
In the opinions of some, Sallie Mae remains one of the
most predatory
and cruel lending operations in the world.
Sallie Mae successfully lobbied for legislative changes to
allow the student loan industry rights and protections that has
crippled
millions of Americans and their families.
Those rights and protections are putting the positive
financial future
of many borrowers at risk and halting any financial progress to many in
repayment, meanwhile Sallie Mae executives have managed to make
themselves
filthy FILTHY Rich.
Sallie Mae has collection practices that have put young
individuals into perpetual debt. The
fees and penalties imposed on those in default of their student loans
compounds
to a level that buries the individual, prevents them from becoming
current and
in many cases ruins their financial standing.
Loan balances can double or triple causing payments to do
the same and
making it impossible to become current.
Sallie Mae has lobbied to make certain that student loans
are virtually
impossible to discharge through bankruptcy.
They can garnish your wages, seize your tax returns, and
reach into your
personal bank account. If
you become
disabled and can not work, Sallie Mae can garnish your disability
income. The law is
on Sallie Mae's side and the
lawmakers have plenty of Sallie Mae's money in their pockets.
Many visitors to this site get here because they performed a
simple internet search on Sallie Mae.
We
chose the site name Screw Sallie Mae because Sallie Mae Sucks wasn't
available. We'd be
lying if we said we
were amazed with the number of Sallie Mae protest sites or individuals
that
have had their lives destroyed by them.
So if you are hear due to hardship, despair, or searching
for guidance.....Welcome. You
are at home. Please
register for the message board and
tell us your story.
