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Established Member
Posts: 21
Registered: ‎04-23-2008
0

Anyone with graduated Sallie Mae payment plans should watch their scores

There is a lot of activity on the student loan board, but I just thought I would let everyone know if they are closing on a house in the next couple of weeks and thought they had good scores that they may drop if you have any Sallie Mae student loans.  If you have a graduated payment plan with them, they are reporting negative info to credit bureaus that you are making partial payments/arrangement (as if it were a collection or something).  Anyways, my score alone dropped 115 in one day and I am supposed to apply for a mortgage in a couple of weeks.  My mid is 720...so of course I am very upset right now.  Sallie Mae states they are fixing the issue, but cannot give a timeframe.  I am not sure how they can get away with this. 
Super Contributor
Posts: 7,681
Registered: ‎07-03-2007
0

Re: Anyone with graduated Sallie Mae payment plans should watch their scores

Your lender can do a rapidre score if this comes up.
Also, most deals don't need a credit report pulled at closing
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