Is it possible to get discharged from Sallie Mae?

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Is it possible to get discharged from Sallie Mae?

After I graduated from high school I attended college, however it closed down while I was in the middle of getting my degree. I was told that all my credits would transfer, but none of them did. I know that for federal loans there’s a law stating that students may be discharged from a loan if a school closes but can I get discharged from Sallie Mae’s loan since I never received anything? None of my credits transfer and I never finished my course of study? I have read horrible things about Sallie Mae and their costumer service, so I’m worried that they discharge me and then keep billing?

Asked on August 11, 2011 New Jersey

Answers:

MD, Member, California Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

First, maintain all communications with Sallie Mae in writing; do not leave everything to simply verbal communications. Second, contact the agency in your state responsible for regulating Sallie Mae and file a complaint to at least get the ball rolling. Next, contact the entity who closed down the school and find out what steps you need to take and then dispute the loan with your credit agencies. You may find this latter method may be effective. You are correct, most educational loans can be discharged if the school closed down, so make sure you review your particular loan package documents to see if there is a provision about that in it.


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