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Sallie Mae isn't the culprit here. It's the student loan process & our government with the fafsa processing. Your parents/cosigners initially take the loans out, don't really read the documents in full, with the understanding of the repayment terms and liabilities involved, become cosigners/comakers and then try to renig by saying since the child/borrower didn't graduate or did but now can't find a job, they are now now responsible for the loan, all because they wanted or needed you to go to school and because you the student don't have credit and because you the parents initiate the fafsa process, you put your child/student and yourself in major credit risk without truely understanding what you signed. Yes, school is expensive. But PARENTS, you really need to either hire an attorney to ready your contracts before you sign or take a class on contracts. You simply cannot say after the fact that you are not responsible when you are indeed. Students, you are either graduates or non graduates, either way, you HAVE to be the responsible adult before, during and after school. THIS IS YOUR LIFE - GET INVOLVED AND UNDERSTAND WHAT YOU HAVE SIGNED. If you always wait until you have a problem, then apparently you will not be successful in a resolution, not just with sm loans but in life in general. You DO have to be proactive, where Sallie Mae can document the loan, as this is in your best interest. It is a sad sad case when the child that goes to school passes away and the student loans revert to the only paying person, the cosigner... this is truly unfortunate, but a harsh reality of contracts 101. It is unfortunate if you have a poor cs rep on the phone who you say doesn't understand, when really it is a case of ignorance on the student & parent/cosigners behalf. You can't get angry and upset at the process and the reps... The fed govt loans have many many oportunities to repay the loans, however, when it is a Sallie Mae private loan, there aren't options ALWAYS available to the signers.... When SM offers you an opportunity to change a term or a rate for a short time or to forbear an amount, these are GIFTS and GIFTS only. YOU CAN'T DEMAND IT. You are NOT entitled to changes in the terms of the loans. NOT always are there opportunities for SM to change terms or offer forbearance. There is nothing in the terminology of the contracts that state SM is obligated to offer you different terms than what you signed off for. JUST REMEMBER, AS A COSIGNER OR COMAKER OF ANY LOAN, YOU GIVE THE LENDER THE RIGHT TO TALK TO YOU OR TRY TO RECOVER THE LOAN IF THE BORROWER DEFAULTS. YOU CANNOT MAKE THE LOAN GO AWAY SIMPLY BY IGNORING OR STATING THE LOAN ISN'T YOUR RESPONSIBILITY AFTER THE FACT.


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