Sarah Mirando  |  April 17, 2012

Category: Legal News

Top Class Actions’s website and social media posts use affiliate links. If you make a purchase using such links, we may receive a commission, but it will not result in any additional charges to you. Please review our Affiliate Link Disclosure for more information.

Follow us on Twitter and Facebook for the latest Class Action Settlement News!

Sallie Mae Reaches New Amended Class Action Settlement Agreement

By Kimberly Mirando

 

Sallie Mae
UPDATE: A federal judge granted Final Approval to the Sallie Mae TCPA Class Action Lawsuit Settlement on September 17, 2012. Settlement checks should be in the mail shortly.
 
An amended settlement agreement has been reached in the Sallie Mae class action lawsuit settlement we reported on in October 2010. Under the new class action settlement agreement, Sallie Mae has agreed to pay an additional $4.65 million to cover potential claim payments to Settlement Class Members not included in the original settlement.

To refresh your memory, Sallie Mae agreed to pay $19.5 million to settle a class action lawsuit that accused the lender of violating the Telephone Consumer Protection Act (TCPA) by making automated or pre-recorded phone calls to Sallie Mae customers’ cell phones without their prior express consent. Class Members of the Sallie Mae class action settlement include all persons who received one of these automated calls from Sallie Mae or one of its subsidiaries between October 27, 2005 and September 14, 2010.

The original class action settlement agreement excluded Sallie Mae customers who had ever been 180 days or more delinquent on a Sallie Mae loan payment or who had already paid off their Sallie Mae loan balance. The new class action settlement agreement now includes these consumers.

Besides requiring Sallie Mae to pay an additional $4.65 million into the class action lawsuit settlement fund, the amended settlement also provides extended deadlines for Class Members to file claim forms, revocation request forms, objections and exclusion requests. These new deadlines can be found at www.ArthurTCPASettlement.com.

The amended settlement agreement also provides that Class Members who have been 180 days or more delinquent on an extension of credit at any time are now eligible for a cash award if they have since repaid that extension of credit in full; otherwise they are eligible only for a reduction of their existing debt, which is the same relief those Class Members were entitled to under the original class action settlement agreement. The amended agreement also allows Class Members who excluded themselves from the class action lawsuit settlement to withdraw that exclusion by written request on or before the objection deadline. Further details on the amended settlement agreement can be found at www.ArthurTCPASettlement.com.

Class Members of the Sallie Mae class action lawsuit settlement are entitled to receive either a cash award of $20 to $40, up to a maximum of $500, or a reduction of their principal balance if they submit a claim form by the new deadline of August 31, 2012.

Class Members who submit a valid and timely claim form will be eligible for the following award options:

— Class Members who have never been 180 days or more delinquent on their payments on extensions of credit owned or serviced by Sallie Mae or any other affiliate or subsidiary of SLM Corporation will be entitled to make claims for: (a) a cash payment (the “Cash Award”); or (b) a one-time reduction from the principal balance of the Settlement Class Member’s outstanding extension of credit (the “Reduction Award”).

— Class Members who have been 180 days or more delinquent but who subsequently repaid the extension of credit in full will be entitled to make a claim for a cash payment (the “Cash Award”).

— Class Members who have, at any time, been 180 days or more delinquent on their payments on extensions of credit owned or serviced by Sallie Mae or any other affiliate or subsidiary of SLM Corporation, and have not repaid their loan in full, will not be entitled to make a claim for a Cash Award, but rather are eligible for a one-time reduction from the principal balance of the Class Member’s outstanding extension of credit (the “Reduction Award”).

— Class Members whose extensions of credit have been charged off for purposes of accounting shall not be entitled to a Cash Award or Reduction Award. Instead, if there is any money remaining in the settlement fund after payment of various settlement costs and monetary awards, such monies will be distributed to court-approved, non-profit charitable organization(s) with the mission of promoting access to higher education. In addition, with respect to Class Members who do not have and have not had any lending or servicing relationship with Sallie Mae, or any other affiliate or subsidiary of SLM Corporation, Sallie Mae will make a minimum cy pres payment of $85,000 to organization(s) devoted to promoting higher education.

Claim forms and more information on your rights in the Sallie Mae TCPA Class Action Lawsuit Settlement can be found at www.ArthurTCPASettlement.com.

 

We tell you about cash you can claim EVERY WEEK! Sign up for our free newsletter.

 

Updated October 1st, 2012

 

All class action and lawsuit news updates are listed in the Lawsuit News section of Top Class Actions

LEGAL INFORMATION IS NOT LEGAL ADVICE
Top Class Actions Legal Statement
©2008 – 2012 Top Class Actions® LLC
Various Trademarks held by their respective owners.

20 thoughts onSallie Mae Reaches New Amended Class Action Settlement Agreement

  1. Laura says:

    This stinks! They harrassed me for YEARS. If I would have known about this I definitely would have applied for it. They called me over 3 times a day, on thanksgiving & christmas. I finally took money out of my retirement account and paid them so theyd leave me alone. They should have known who they did this to and sent them a notice of it. They had to have phone records and database info with known customers that they harrassed.

  2. gloria says:

    I Gloria have not got my check please send it as soon as you can the court have pass the bill and no one got the ckeck but the lady that was online for 118,00 doller I am try to call no one but the same girl say that the boss is not here over and over so please help mrs. Gloria blair brown 317-635-7224

  3. anonymous mother says:

    They were relentless, I attempted to return the call and they would not talk to me without my SSN, which I do not give out over the phone. They called at least 7 times a day.

  4. Rodney says:

    Sallie Mae now is committing another scam. They are going into high schools allowing for high school students to co-sign on student loan applications for other high school students without any parental notification. Even when it is done in a coercive, fraudalent manner. I personally witnessed this. Have documentation to support the claim. I am not trying to find out where is the next class action or individual lawsuits are being filed. If anyone knows, please let me know.

  5. trina says:

    still waiting on my check!!!!! 1/27/2014

    1. Paddy says:

      I still have the postcard with a # of 888 730 7196 I am going to call tomorrow 4/21/14

      1. Susan says:

        I have been calling that number for the last year and it has rang busy the whole time!!!

  6. Merrill says:

    Anybody have a phone number to reach these people? I’m not sure I ever received any settlement.

  7. Paul Keene says:

    For years sallie mae has bug me with those automated phone calls.But in this last year think God they have stop.So if there is a way to stop this from happening to others please by all means go ahead.I have over six years of legal training in law alone and I know there are ways to make them stop there automated calling because in most state this can be unlawful.

Leave a Reply

Your email address will not be published. By submitting your comment and contact information, you agree to receive marketing emails from Top Class Actions regarding this and/or similar lawsuits or settlements, and/or to be contacted by an attorney or law firm to discuss the details of your potential case at no charge to you if you qualify. Required fields are marked *

Please note: Top Class Actions is not a settlement administrator or law firm. Top Class Actions is a legal news source that reports on class action lawsuits, class action settlements, drug injury lawsuits and product liability lawsuits. Top Class Actions does not process claims and we cannot advise you on the status of any class action settlement claim. You must contact the settlement administrator or your attorney for any updates regarding your claim status, claim form or questions about when payments are expected to be mailed out.