<p>I agree Calmom, I think a lot of students that complain about late fees (at least the ones I talk too) paid by check, paid close to the due date or missed a payment. You never hear those things, they are just angry. I have Sallie Mae for 2 or my son’s loans, we pay online,(interest) and I pay some principle when I can. They have a very easy to use site, you can see payments, what went to the principle vs interest, you can schedule monthly payments (even before it’s due) it’s hard to understand how you can have late payments doing it that way. They send confirmation emails for every transaction also.
One thing my sister told me though with Sallie Mae, deferring the loan while her son was laid off was painful. I don’t know if others would be the same but one hand didn’t seem to know what the other was doing. They had a few phone calls and letters before it was straightened out. They hadn’t done it online at that time if that made a difference. Nowadays, it is so geared to that.
I love the interest rate my parent loan was with NJClass, but I hate trying to call and getting 20 minute waits or having to call back. Nothing but the applicaiton is online and all payments are auto-debit or check, but you can’t see it online. I miss that aspect a lot.</p>