Sallie Mae – Military Interest Rates on Student Loans (Servicemembers Civil Relief Act)

Chimicles & Tikellis is investigating a potential class action lawsuit against Sallie Mae for allegedly charging military personnel interest rates on student loans that violate the Servicemembers Civil Relief Act (“SCRA”). SCRA is a federal law that provides financial protections to military personnel while they are engaged in active duty. An important provision of SCRA requires a private loan acquired in excess of 6% per year by a service member before entering active duty be reduced to 6% during the period that he or she is in active duty. It has been alleged that Sallie Mae has been violating SCRA by failing to reduce student loan interest rates to 6% when military personnel request it.

If you have questions about SCRA, or believe that you were denied an interest rate reduction on your student loans while in active duty, please use the “Email us about this Case” button to contact the attorneys below.

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