Sallie Mae

Report Card
Overall Grade
Debt Collection Grade
Student Loans Grade
Sallie Mae is rated overall in the top 98 percentile (out of 100) based on 106 customer complaints.


Complaints Currently In-Progress1
Complaints per $100K of Deposits10.9
Complaints Resolved in a Timely Manner100%
Resolutions Disputed by Customer7.5%
Average Time Until Resolution21 days

Financial Report

Owner Corporation
EstablishedNovember, 2005
FDIC InsuredNovember, 2005
FDIC Certificate #058177
Number of Branches1
Total Assets$11.5 Million (72nd)
Total Deposits$9.7 Million (72nd)
Total Equity$1.4 Million (70th)
Quartarly Net Income$88.5 Thousand (32nd)

Contact Information

Corporate Headquarters
175 S West Temple, Suite 600
Salt Lake City, UT 84101
United Statesflag
Data Summary
Sallie Mae logo

Grade Summary

Overall, Sallie Mae received a grade of "A" based on how quickly the company responded to complaints, how often customers disputed their final resolution, and how many complaints were recieved per customer.

Grades are also broken down by the financial products offered be each institution. Sallie Mae is rated "A-" in Debt Collection, and "B-" in Student Loans. Click on any of the financial products to see how Sallie Mae compares.


Sallie Mae has received 106 consumer complaints since February, 2014 – more than 92% of other banks.

Of those complaints, 100% of complaints were resolved in a timely manner. The CFPB allows 60 days to resolve complaints before considering them 'untimely.' Sallie Mae meets the 60-day response deadline more frequently than 83% of other banks.

After companies respond to complaints, customers may dispute the response indicating that the issue was not resolved adequately. 7.5% of customers dispute Sallie Mae's response to complaints — better than 90.3% of other companies.

Most of Sallie Mae's customers complain about student loans with the primary issue being "dealing with my lender or servicer."

Sallie Mae is primarily a commercial bank with a consumer lending specialization. Sallie Mae is based in Salt Lake City, Utah and is the 72nd largest FDIC insured bank in America.

Naturally larger banks receive more customer complaints than smaller ones. This does not necessarily indicate that a bank is better than another in terms of service and customer support.

However, even after adjusting for bank size and number of customers, Sallie Mae receives far more complaints than most other banks. Sallie Mae recieves more complaints per customer than 98% of other banks – customers are significantly more likely to file complaints than customers of most other banks.

Corporate Headquarters
Complaints by Product
Complaints by State
Complaints Against Sallie Mae
#Financial ProductSub-ProductComplaint IssueComplaint Count
1Student loanNon-federal student loanDealing with my lender or servicer174
2Student loanNon-federal student loanCan't repay my loan90
3Student loanNon-federal student loanGetting a loan14
4Debt collectionNon-federal student loanCommunication tactics6
5Debt collectionFederal student loanCommunication tactics3
6Bank account or serviceOther bank product/serviceDeposits and withdrawals2
7Debt collectionNon-federal student loanCommunication tactics2
8Debt collectionFederal student loanCont'd attempts collect debt not owed1
9Debt collectionNon-federal student loanCont'd attempts collect debt not owed1
10Debt collectionNon-federal student loanTaking/threatening an illegal action1
Responses From Sallie Mae
#Company ResponseResponse CountTimely Response CountDisputed Count
1Closed with explanation222222 (100%)36 (16.2%)
2Closed with monetary relief3939 (100%)3 (7.7%)
3Closed with non-monetary relief2828 (100%)0 (0%)
4In progress87 (87.5%)0 (0%)
Complaints over the Past Year