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Sallie Mae Agrees To Stop Pocketing Forbearance "Good Faith Deposit" & Actually Apply It To Student Loan Balances

Working off the peitition model that forced Bank of America to back off its $5 debit card fee, one woman’s crusade against Sallie Mae’s “good faith deposits” of $50 per loan in forbearance every three months has seen some success. The fee will still be applied, but now they actually deduct it from the total loans owned. [More]