Sallie Mae NOT!
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- Written by Catherine Tumber, Boston Phoenix
If you have received a letter from Sallie Mae indicating that your monthly payments will go up due to a computer-installation error, and you can't afford the increase, you should take the following steps. 1) Call the dedicated line established by the company for these complaints: (800) 890-9798. 2) Explain your situation, then make sure you're put through to a supervisor. 3) Ask to enter into a reduced-payment agreement, one that does not involve paying more interest -- either through capitalization or extended payments. 4) If you are asked to sign a forbearance form, make sure it states in writing that interest capitalization will be waived. 5) If Sallie Mae makes none of these options available to you, contact your US senator or representative and ask him or her to assist with your request.
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