This is a scam to get money promising student loan forgiveness in which they have not done anything as far as forgiveness goes .
Just so, can Sallie Mae student loans be forgiven?
While Sallie Mae doesn’t offer loan consolidation and refinancing anymore, you could potentially reduce your interest rate by refinancing your student loans with a different private lender, especially if you have a good credit history and strong potential earnings.
Besides, can you go to jail for not paying student loans?
Can You Go to Jail for Not Paying Student Loan Debt? You can’t be arrested or sentenced to time behind bars for not paying student loan debt because student loans are considered “civil” debts. This type of debt includes credit card debt and medical bills, and can’t result in an arrest or jail sentence.
Can you sue a student loan company?
Lawsuits are not very common in federal student loan collection, but they can happen! It is less common for the government to sue to collect on student loans because it has so many tools to use outside of court. … Lawsuits are the main collection tool that private lenders have to collect private student loans.
Student loans don’t go away after 7 years. There is no program for loan forgiveness or loan cancellation after 7 years. However, if it’s been more than 7.5 years since you made a payment on your student loan debt and you default, the debt and the missed payments can be removed from your credit report.
Sallie Mae and other private student loans can’t be forgiven. In fact, there are actually no official student loan forgiveness programs for any private student loan company. Federal student loan borrowers can use the Public Service Loan Forgiveness (PSLF) or Teacher Loan Forgiveness programs to wipe away their debt.
American Education Services (AES) is a federal loan servicer that processes FFEL loans. While the FFEL program was discontinued, AES still handles borrowers in repayments, and it also services some private student loans for other lenders.
The Default Resolution Group can only help you if your loans are held by the U.S. Department of Education (ED). ED owns all defaulted Direct Loans and some defaulted FFEL Program loans (the rest are owned by a guaranty agency).
Is Navient student loan forgiveness real? There’s no such thing as a “Navient student loan forgiveness” program, and it’s unlikely that Navient borrowers will get the compensation the CFPB is requesting anytime soon.
Nelnet is a federal student loan servicer working on behalf of the U.S. Department of Education, the government agency that lends you or your child student loans.
You can access information about your federal student loans through NSLDS, the National Student Loan Data System (www.nslds.ed.gov). NSLDS is the U.S. Department of Education’s central database for federal student loans and financial aid.
All new Sallie Mae loans are private. … Sallie Mae started off under the federal government and provided loans through the Federal Family Education Loan program, or FFEL. In 2004, Sallie Mae privatized and began issuing private loans while still offering FFEL loans.
Let your lender know if you may have problems repaying your student loan. Failing to pay your student loan within 90 days classifies the debt as delinquent, which means your credit rating will take a hit. After 270 days, the student loan is in default and may then be transferred to a collection agency to recover.
The Problem With Sallie Mae or Navient Loans
They are private loans. Sallie Mae and Navient offer few to no options for repayment and do not offer any kind of income-based repayment plans. … No student loan is protected by bankruptcy—not private loans, not federal loans, none of them.