Sallie Mae Stafford Deferment - YIKES!

[Anonymous]

Yikes, I applied for a deferment and waws approved.....BUT, my fico fell 61 points because of it!!  I did not realize that would happen.  I suppose now, if I cancel the deferment and just get through this period until September, when I go back to school, my credit would still be ruined (?)  Or would my credit go back up immediately?  I have never been late on a student loan and was quite surprised how much this deferment affected my score.  anyone else have this happen?

[GFer]

They did the same thing to me!

Not really fair....

[haulingthescoreup]

Check the link stickied at the top of this board. Sallie Mae miscoded their graduated payment plans and created a horrendous mess. They're in the process of trying to untangle themselves, it appears.

I would expect that you'll need to do a lot of follow-up on this even after they make their changes to be sure that all the uglies are properly removed from your reports.