Question: Dear Steve, I originally borrowed a lot of private loan money from Sallie Mae (7 different loans). Unfortunately, they all defaulted once I decided to stop paying (because my minimum/interest-only/salary-based payments did nothing). I paid a company to help me get collection companies to validate the debts, which they couldn’t, so I was never … Read more
It was announced today that many, but not all states that participated in a lawsuit against Navient in 2017. At the time Navient called the suit, “completely unfounded” but the announcements today reflect the opposite. Details of Settlement We have both a lot of information and a lot of unanswered questions about how all of … Read more
Question: Dear Steve, I went to High Point University in NC a private institution in 2012. Graduated finally in Dec 2017. I of course took out student loans both federal and private. Private being Sallie Mae. I came home in Dec 2017 after graduation had no job for 2 months and Sallie wanted payment because … Read more
This suit filed against Sallie Mae Student Loan Corporation, Ascension, Navient, Equifax Information Services, Pioneer Credit Services, Trans Union, and Experian Services Corporation would be unbelievable if all the facts asserted are proven true. I’ll keep an eye on this suit but for now, here is what we do know. In Texas, in December 2020 … Read more
Question: Dear Steve, Sallie Mae->Navient steered me into and consolidated my student loans, 7% interest-been paying for 22 years on one and since they consolidated when I finished my MS in 2007, looks like it’s only been 13 years. Now I’m a lung cancer survivor, 61 years old with ongoing health problems and the balance … Read more
Question: Dear Steve, I go a call that my son owed a large amount to a college he was attending. They admitted they had failed to invoice him hence the pileup. Suddenly SallieMae was calling me wanting to know if I would cosign. Not knowing what else to do I said ok. They took my … Read more
Question: Dear Steve, I have paid Navient/Sallie Mae roughly $63k over the past 10 years but my balance never goes down. My original principal was around $40k. Should I consider just stopping payments? Casey Answer: Dear Casey, I can certainly understand how you would feel this way. You are making the payments required but it’s … Read more
Question: Michael, My grandparents co-signed for me loans thru Sallie Mae. They want large amounts at a time and won’t let me make 150 dollar payments. They have been harassing me and most of my family, checked my grandparent’s bank account and since my loans defaulted recently, now they are threatening to sue. They are … Read more
Question: Dear Steve, My son-in-law has co-signed a Sallie Mae loan for his brother, His brother has graduated and has a diploma and is now ben employed for a year. He is refusing to release my son- in law from the loan. Interest has been paid by the father and mother for years. What is … Read more
Question: Hi Steve, My son attended Tribeca Flashpoint Academy from 2011 – 2014. Prior to enrollment both he and I sat down with the college founder and were told that the school was in the accreditation process and assured us that by my son’s second semester in attendance. When this did not occur we called … Read more
Question: Dear Steve, My husband attending the Connecticut School of Broadcasting in 2008. The school closed in 2009, in the middle of him going to school. He was one of the few who showed up at the campus to find the doors chained and locked. We’ve been fighting to pay off his student loan since … Read more
Crocker v. Navient Solutions, a recent Fifth Circuit decision, is a small win for student-loan debtors. Essentially, the Fifth Circuit ruled that a private student loan obtained to pay for a bar review course is dischargeable in bankruptcy. (The opinion also includes extensive analysis and ruling on a jurisdictional issue, which will not be discussed … Read more
A reader sent in the following statement regarding a case filed in Texas, “Just including a recent decision from the 5th circuit court of appeals that says Navient private student loans are discharged when bankruptcy is discharged, and that any contempt violation that occurred has to be in the court it happened.” I’ve actually written … Read more
Question: Dear Steve, My daughter needed a small loan with a cosigner for tuition. My husband cosigned for her. She also had another small loan the next semester to which she took out without anyone cosigning. Sallie Mae defaulted on the the loan that was only on her name. Claiming they had sent mailings to … Read more
Justice takes time. In 2016 I first wrote about Navient and Sallie Mae student loans that clearly appeared to be eligible for and dischargeable in bankruptcy if people had filed. See this post for more. At issue was the fact the student loans pushed by then Sallie Mae were not protected in bankruptcy from discharge … Read more