<p>This would be comic if it wasn’t messing up so many lives. In regards to loans and servicing, it appears even if one is paying SM it may not be credited. Whether its paid eft, mail, or etc.
Todays Chronicle of Higher Education…</p>
<p>May 14, 2008
Sallie Mae Borrowers Snagged by Error in Reports to Credit Bureaus
Washington As many as one million customers of Sallie Mae, the nations largest student-loan company, may be facing problems with their credit ratings after a computer error that the company has worked to fix.</p>
<p>Sallie Mae says it mistakenly reported to credit bureaus that thousands of its customers were delinquent in paying back their loans. That caused their credit scores to drop by 100 points or more, Bankrate.com reported today.</p>
<p>Sallie Mae says the error occurred last Thursday, when it reported extended repayment plans as meaning the borrower was making a partial payment. That report led Equifax, one of the three national credit-reporting agencies, to code the accounts as delinquent, Sallie Mae spokesmen said.</p>
<p>A Sallie Mae spokesman said the error had affected less than 10 percent of its 10 million borrowers. All affected credit reports were corrected by late Tuesday, and Sallie Mae will take corrective steps, including supplying a credit-reference letter to anyone who needs help in proving the source of the mistake. Paul Basken</p>