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Sallie Mae bought my student loans

Michael Agruss

Written and Reviewed by Michael Agruss

  • Managing Partner and Personal Injury Lawyer at Mike Agruss Law.
  • Over 20 years of experience in Personal Injury.
  • Over 8000+ consumer rights cases settled.
  • Graduated from the University of Illinois Chicago School of Law: Juris Doctor, 2004.

Sallie Mae bought my student loans from Great Lakes. When they purchased my loan, they did not honor the repayment terms I had agreed upon with Great Lakes and extended my terms an additional 5 years. (Which would cause me to overpay 5 years worth of payments an interest). Instead of showing my account as a transferred account, they showed it as a consolidation which it wasn’t. I would have had to request a consolidation and I didn’t. I could do nothing to stop thee sale of my loan from Great Lakes to Sallie Mae. I contacted customer service and while the girl I spoke to in India was very nice, she was not helpful. I asked to speak to a manager and after being on hold a few minutes came back and said they were all unavailable and asked if she could do anything to help. I told her yes, allow me to speak to a manager. I had to ask to have a manager call me. I am still waiting for that phone call.

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