What to Do When You Can’t Pay Your Sallie Mae Bill
Sallie Mae is a loan company offering student loans for college students and parents of college students. Students and parents can apply for loans after completing the FAFSA or Free Application for Federal Student Aid. The FAFSA determines the EFC or estimated family contribution. Sallie Mae offers various repayment options and savings programs to pay down student loan debt, including the Upromise program.
How to Pay the Bill
Sallie Mae offers various payment options for students and parents seeking to make bill payments.
Pay online: You can register for online access to your Sallie Mae loan. From the online account, you can pay your Sallie Mae loan at https://www.salliemae.com/. If you applied for your loan online, you already have access to online payments.
Pay by mail: Customers wishing to send payments for Sallie Mae loans through the mail can address payments to:
Sallie Mae, Inc.
PO Box 9532
Wilkes-Barre, PA 18773-9532
If you are a co-signer and wish to mail a payment, address your payment to:
Sallie Mae, Inc.
PO Box 9555
Wilkes-Barre, PA 18773-9555
Pay by phone: Phone payments are processed at 1-888-272-5543.
Questions About Your Billing Statement or Account?
If you have questions about certain fees, including, late payment fees, collection fees, court cost and garnishments, we recommend visiting the Sallie Maie student loan FAQ resource page. You can also receive additional information from customer service at 1-888-272-5543.
How Penalty Fees Work
If you can’t make your Sallie Mae payments on-time, it is crucial to contact customer service for alternative repayment options. Sallie Mae charges:
- Late payment fees
- Collection fees
- Court fees
- Wage garnishments
I Can’t Make a Payment
If you don’t pay your Sallie Mae loan payment, you will be in default of your contract. This occurs after just one missed payment. The company can then garnish your wages or take you to court for the balance of your student loan account. Contacting customer service is the first step in resolving a default account. There are several popular options to reduce student loan payments.
- Forbearance: Eliminate monthly bills or reduce amount owed per month for a temporary period. Typically approved for a maximum of 12 months before you have to reapply.
- Deferment: Eliminate payments temporarily, if you qualify. You must reapply after 12 months.
- Payment reduction: There are various repayment programs available from Sallie Mae. Some programs may offer a reduction in monthly student loans payments. A brief forbearance or deferment may bring your account current and out of the default status.
Will They Work With Me to Pay My Bill?
Yes, Sallie Mae will work with students and parents to resolve a past due bill. Most often, forbearance or deferment is the best option to bring your account current. After the account is current, customer service at 1-888-272-5543 will work with you to reduce monthly payments.