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NanaC

Student Loan..Say What?

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Ok, this is a crazy story..

I have student loans with Sallie Mae (UGH) and EAC. I wanted to consolidate with Direct Loans. Tried and Sallie Mae refused saying they were the only lender. Of course, this isn't true but Direct Loans said they would just consolidate EAC and then I could add in Salle Mae who would not be able to refuse at that point cuz I would have a Direct Loan. So, the EAC consolidation was official on the 23rd and funded on that date.

Today, in the mail, I receive notice from Sallie Mae dated 1/22 saying that they had purchased the loans from EAC and the usual thing about continuing to pay, etc.

So, I call Direct Loans who say don't worry, they paid on the 23rd and I can't seem to make them understand Sallie Mae's letter is dated 22nd. May I add..I HATE SALLIE MAE!!!

So, here's my questions:

1) What's going to happen with this payment from Direct Loans that was sent to EAC?

2) Could Direct Loans be right and Sallie Mae didn't really buy my loans as this letter states?

3) Could EAC have sold my loans after being notified by Direct Loans that they were purchasing them?

4) Can I hate Sallie Mae anymore than I already do? (LOL)

Sigh..this is crazy! Any thoughts appreciated!

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Check the first payment due on the Sallie Mae loan. It may clarify the whole thing. It could simply be a notice that they have purchased your loan from EAC. Read carefully, and be sure to follow up before thirty day late coud possibly occur.

Looks like you did get your original wish, and that was to consolidate your loans to Sallie Mae. Now you are in. Just havae to work with them. Stay out in front of any problems, and they will work with you.

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Check the first payment due on the Sallie Mae loan. It may clarify the whole thing. It could simply be a notice that they have purchased your loan from EAC. Read carefully, and be sure to follow up before thirty day late coud possibly occur.

Looks like you did get your original wish, and that was to consolidate your loans to Sallie Mae. Now you are in. Just havae to work with them. Stay out in front of any problems, and they will work with you.

Oh, NOOOOOOO...that was not my wish at all..I wanted my loans as far away from Sallie Mae as I could possibly get them. Sallie mae realized I was consolidating elsewhere and rushed to snap up my other loans so I couldn't. And, in the meantime, Direct Loans sent a LARGE check to EAC for payoff of the loans that they apparently no longer hold.

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