Student Loan - Loans and Debt Consolidation

GRADS FIGHT SALLIE MAE S UNEMPLOYMENT PENALTY ON STUDENT LOANS

Grads Fight Sallie Mae sUnemployment Penalty on Student Loans

For Sallie Mae to tack on these extra fees just to pad their profits is to kick people like me when we re already down, Gray continued. Charging a forbearance fee is wrong, and more than 50,000 people who agree are standing with me.

WASHINGTON, DC PRWEB January 26, 2012

Stef Gray, a recent graduate of a public college who took out private student loans through Sallie Mae, is leading the campaign on Change.org after being hit with the fee when she asked for a forbearance.

What Sallie Mae is doing is wrong, said Gray, who launched the campaign on Change.org. My loan already grows by more than $1,000 in interest every three months when it s in forbearance, and I pay almost 10% in interest because my parents weren t alive to cosign my loans.

For Sallie Mae to tack on these extra fees just to pad their profits is to kick people like me when we re already down, Gray continued. Charging a forbearance fee is wrong, and more than 50,000 people who agree are standing with me.

What Stef has accomplished in just a few weeks is remarkable, said Change.org Senior Organizer William Winters. She s obviously tapped into an issue that a lot of people feel strongly about, especially with student debt rising steadily amid high unemployment among college grads. Change.org is about empowering ordinary people to take action on issues that matter to them, and it s been incredible watching Stef...[more]