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Published: 2/3/2012
Sallie Mae changes fee after online protest
NEW YORK — Private student lender Sallie Mae is changing how it handles a fee it charges struggling borrowers who seek to temporarily suspend payments.
Sallie Mae isn’t canceling the $50 fee, but said it will apply the money toward the borrower’s loan balance if on-time payments are resumed for six months in a row. The change came after an online petition asking the company to drop the fee collected more than 77,000 signatures on Change.org.
Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.
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