[helpme75]

I recently graduated in May 2006 and prior to the July 1st deadline was instructed my my educational institution to quickly consolidate for the lower interest rate. Sallie Mae and it's subsidiaries owned all of my Federal subsidized and unsubsidized Stafford loans prior. So I consolidated while in my last semester and immediately filed an Add-on upon graduation to lock in the rate. Access Group, the loan consolidation company guaranteed a rate of 2.7% on the original consolidation, followed by a rate of 3.3% on the Add-on. The total is a weighted average based on when the amounts were combined.

SO... I thought my Federal loans were all consolidated into one payment with Access Group when I get this bill from Sallie Mae, saying I still owe them 14,000. So I look online and all 13 of my loans with Sallie Mae them have these small amounts remaining... 1,000 here, 1,500 there. Access Group sent an under-funded check to Sallie Mae and Sallie Mae applied the payment to all my loans instead of paying off one or two. I found this out *after* July 1, 2006 of course... you know, when I get the bill from Sallie Mae. So I call Access Group and they say it's Sallie Mae's fault for not including all the loans on the "loan verification", and I call Sallie Mae who say they did. I don't know who to believe... I'm instructed by Access Group to file another Add-on so I can include the remaining balance. So I do, thinking the interest rate will be corrected since this clearly is not my fault. NOPE. The additional 14,000 is added at 7.14%, bringing my total weighted average to 3.85%... not horrible but still.

SO- that's issue number 1. On to issue number 2.

So for the last 6 months I keep looking at my balance, looking at my consolidation, and it never seems right. I call Access Group literally weekly since October and request information regarding my balance, etc... all I get is the run around. After MONTHS of this, a representative *finally* calls me and tells me that Access Group accidentally paid Sallie Mae for two of my loans twice... on two different consolidations. The amount overpaid is over 34,000. So they tell me they're working on getting the money back from Sallie Mae and a letter will be sent, blah, blah. Nothing happens. This was in January. So after not hearing anything and not getting *any* correspondence or even a call, and after seeing my balance stay the same... I call them. The representative tells me there's no protocol in place for them to get the money back from Sallie Mae. That I need to speak with Sallie Mae and explain what happened but there's no way to make them return the money since these were electronic transfers, etc, etc. They want me to appeal to Sallie Mae over the phone and explain what happened in an attempt to get the money back and credit my account... all in a conference call. They blame me for signing the consolidation with the same two loans previously consolidated in the first place (which I have no record of but admit is clearly stupid) and say they didn't catch the error because "there was no system of checks and balances in place in 2006 due to the overwhelming number of consolidation applications". Meanwhile I'm still making payments to Access Group for 530.00/month...

SO how am *I* suddenly managing this? How can this company just leave me paying on an incorrect amount *they* consolidated?? If I did sign the loans to be consolidated twice, how can I get the money back? Shouldn't this company be held responsible? They are paid to do the consolidation! I trusted their lead and expertise. How can they say "there's no way to force Sallie Mae to return the money"? How can they make me responsible for the interest rate hike from the Add-ons when the two companies were the ones not communicating well? Why am I at fault? What are my rights?? What should I do???? I really need help. I need legal advice!!

Dan- Boston, Massachusetts

[Mr. Knowitall]

Follow their instructions and appeal to Sallie Mae to return the overpayment. If Sallie Mae won't, you may have to sue them.