Why does Sallie Mae keep sending me bills that I don't need to pay til 2009?

Question

Hi, before I ask my question, I want to tell you what has been happening these past few weeks. I dropped out of school in June. About two weeks ago Sallie Mae took out $89 from my bank account. Now, I would be fine with that because I signed up for the automatic debit. But I haven't been in school! So I called them and they said it was a mistake on their part and they had me still listed as enrolled in school. So they refunded my money through my bank and I didn't have to pay until 6 months after I dropped out. I was very happy with that.

But just recently, I got a letter stating that I owe $389.61 plus a late fee! They JUST told me I didn't have to pay anything untiI 6 months after (Jan). So I called them today and they said that I was in good standing with them, didn't have to pay til Jan, etc. But they keep sending me bills! The girl on the phone didn't have an answer for me.

I want to know why they are still sending me letters when I don't have to pay until 2009?

Answer 1

most of the time to let u know about your interest that is accrue of the loan. It should say "This is not an Bill", on the letter.

Answer 2

they' re trying to remind you. Go back to school.

Answer 3

It sounds like Sallie Mae isn't your only lender. Do you have any other student loans/career training loans? You very well may be in good standing with Sallie Mae, but not the other loan providers.

Answer 4

Sallie Mae is a big company with lots of red tape and processes - I should know, I just quit from there.  It sounds like it's just a case of the left hand not knowing what the right hand is doing.

I would suggest logging in to www.manageyourloans.com (you can also go to www.salliemae.com and click on a link to get to M.Y.L.)  When you get to the acct summary page, look at the line that says "next due date" - that should read "N/A" or January, 2009.  If that is not the case, call 888 2-SALLIE and just get on their case again - tell them that you should still be in your grace period.

However, be aware that you will still be accruing interest in your 6-month grace period.  But the late fees are definitely wrong.