Just thought I would share my story of never-ending frustration so that others could make a better-educated decision in loans. I read the loan thread, and decided to go with BankofAmerica's education maximizer and Sallie Mae's tuition answer loan for my outside-of-school costs. As for pre-qualifying, sallie mae was easier and faster. Then the troubles started. I've had the BofA money for several weeks now; the rest of their process was very simple and straightforward.
I kept checking online into my loan status, and for several weeks it said incomplete. After two weeks I called, and suddenly they informed me that I was supposed to send a copy of my drivers license and a copy of a bill with my address on it. This was never mentioned anywhere on the app. So, the next day I faxed those in. The website says to allow 3-7 business days to process new stuff. I gave them a week, called, they said I was early by a day, and to call back then. The guy also said he wasn't sure why they had even asked me to send it, it looked like it wasn't even needed. So, I called back in 3 days. This person also said she wasn't sure why they requested that info, but the last time I called the guy put in a notice, which flagged the app for MORE processing, and they needed 7 business days from the last time I called! So, I called today (couldn't call exactly a week from then because I was working), and NOW they say the copy of my drivers license which they didn't even need, they can't read my signature and they need me to send another better copy. AHHHHHH!!!:trout::angryfire:angryfire And school starts in 2 weeks, and I'll have to allow another 7 business days to process this!
