Amy
Wheaton,#2Consumer Suggestion
Mon, April 10, 2006
I am dealing with Sallie Mae for my private, career training loan. Do not get this loan. I have learned the hard way. Interest rates are out of control, Sallie Mae won't give me straight ansswers. I have decided to research and write to government officials and voice my concern against Sallie Mae and private educational loans. I have written my complaints to: U.S. Department of Education FSA Ombudsman 830 First Street, NE Fourth Floor Washington, DC 20202-5144. Illinois State Board of Education and to the Governor of Illinois and to Sallie Mae Corporation at: PO Box 470 3000 Lincoln Drive E Suite F Marlton, NJ 08053. If you wish to further investigate I suggest you re-read all of your promissory notes and disclosure information and check out the following to see what applies to your situation: I recommend reading about: 1998 Amendments to the Higher Education Act of 1965 (section a: applicable Interest Rates) found on ED.gov. Carl D. Perkins Vocational and Applied Technology Education Act section 14101. Secondary Education act of 1965. National and Community Act of 1990. There might be other sections which may pertain to your situation if you choose to read further in the Higher Education Act of 1965, as amended (you can find the amended section at ed.gov) You may also want to read about the FFElp_Inducements (CBA and EFC Issue Joint Statement on Private Education Credit and FFELP (Federal Family Education Loan Program) Inducements. I am not an expert in this field. I have only done research to which applies to my situation. But thought it might be helpful to you. You are not alone.