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Original Comment I am at my wit's end in trying to resolve issues with Sallie Mae. I have a multitude of issues. For starters, I do not understand how they can legally compound interest the way they do, thus charging interest on interest. I am a co-signer on two loans, and have been paying via auto-debit for quite some time. It is my intent to pay the loans off early but it is literally impossible to do at Sallie Mae. I sent in two "extra" payments to see how they applied. All but pennies were taken to interest, and just reduced the amount of the next auto-debits. In follow-up, I was told that the only way to make additional principal reductions in order to pay off early is to get them to Sallie Mae on the 1st day of the month. A one-day window. Finally, after getting no help at all, I made the decision to move the debt to another financial institution from which I received and attractive offer. I have since gotten the money from that financial institution, obtained a payoff quote from Sallie Mae, and spent $20 to overnight-mail the payoff to the remittance center. Three business days later, they have not processed the payment. I keep getting assurances that the payoff will post, but no one can find it, or tell me when it will post. I have instructed them to stop the auto-debits, but I will likely have to pay a fee to my bank to do this. Additionally, I may have to pay a fee to stop payment on the payoff check. I sincerely hope there is someone at Sallie Mae who can tell me HOW to pay off a loan because I am not paying them another dime until they do. I am proceeding with formal complaints to the CFPB, FDIC, and OCC.

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