New Mexico Educational Assistance Foundation Tiburon St, Albuquerque

New Mexico Educational Assistance Foundation Reviews

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  Elizabeth Abad
  1

  I fell under the FFELP loan trap and paid double of what I borrowed or even more. For all of the money they made off of me and millions others, you would think it would be easy to do auto payments. Nooo, they make you go through hoops as if we were back in the 90s. Their scripted BS is exactly that BS. Repaying to highest interest rate loans is not straight forward. Never get a loan from this organization. Do your homework on loans. They thrive on ignorance.

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  Joseph Abercrombie
  2

  I've had loans with this company for over 10 years. The reason for that is because they won't allow me to consolidate the non-federal loans I took out, but that's beside the point. This is a New Mexico business, and I mean that in every sense. I've never been impressed with the website; it usually looks like websites looked 10 years ago. The payment system is a joke. If you set up automatic payments, the payment plan will automatically pay off your lowest-interest loans (not a good thing). If you pay extra via the website, they will apply that extra money to FUTURE interest payments (not your principal). The only way to pay extra towards your principal is to mail a CHECK every month and write in the notes that you want the extra money to be paid to the principal of "loan group B" (or whatever your case is). In contrast, I had loans with Sallie Mae and their payment system was GREAT. They had ALL the options available for you. Plus, they offer generous deferment and forbearance options. The interest rate was higher, but that could have been a product of market forces and not business practice. In short, I cannot recommend this company. The people on the phone are nice, but so are the people at Sallie Mae. The only possible reason you could have for using this company is if they offer a significantly lower interest rate, and even then I think it might not be worth it.

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  Jackie Alshawabkeh
  1

  I hate leaving bad reviews and wish I didn't have to leave this one but I don't know what else to do. I have my student loans with this organization and it is impossible to get help. Their staff made an error on my account and they refuse to correct it. The information the staff is giving me does not match my statements and they just assume I should trust what the staff says when they made the error in the first place. I cannot seem to get help from any of their supervisors and no longer trust the honesty of this organization. Hopefully, the NM Attorney General's office can help me.

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  Karen Gertis
  1

  I set up automatic payments but they never take it out. They constantly harass me even if payments are on time. 24/7 I am getting calls from these people asking me for more money even after I submitted my payment. Stay away from this company.

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  Tonya Chando
  1

  I am a current student at ASU and have been paying monthly on my student loans now for at least 4 years. I have started receiving calls from these people telling that my old CNM account may be in arrears. Not true. Those loans have already been paid. Shysters. Simple. They want me to call back and give them my social and my date of birth. HA!! Never going to happen. Stay away. I sense a scam. SO STOP CALLING ME 2-3 TIMES A DAY!!!!!

  Response from the owner

  Hello Mary, We would like to work with you to resolve this situation and update the information in our system. We can locate your account by your phone number or account number and don’t need your SSN. Please contact us at 1-888-702-0213 or 505-823-6150 or [email protected].

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  krystle spang
  1

  I was on auto payments, and they took me off without letting me know! Then trying to get back on has been impossible and they have been tearing my credit up ever since, can not even get a payment because they won't answer!!!!!

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  j mill
  1

  They aren't usually very helpful and what is this business of only doing a one month forbearance?! If I don't have money to pay the exorbitant amount of money they want this month, I'm not going to have it after a one month forbearance. Give me a break. I agree with the person who said NMSL is a bunch of loan sharks. I don't recommend taking out loans with them ever!

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  Silver Fox
  1

  Horrible to deal with never take a loan from them. They hassle you all the time even if you are a day late they called me 6 times in one day, even after I spoke with the lady on the phone saying i could make the payment in two days.

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  Celeste Schwartz
  1

  Honestly the worst place to have a loan at. They can't answer questions about the forms they use and they don't work with you on repayment or explaining what can be done to accommodate job loss or reduced income.

  Response from the owner

  Hello Celeste, We are sorry to hear you had a bad experience, we strive for excellent customer service. We'd like to learn more about your situation and experience so we can improve and see what repayment plans are available for your loan. Please contact us at 800-279-5063 or [email protected] and we will work with you to resolve your problems. Thank you, NMEAF

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  Lencia Soudaly
  3

  Mobile site not user friendly. Cannot log into account. I click make a payment, it gives me payment options and that I need to log into accout access. I cannot for some reason, even tried to go through manage my account and still cant get to account access. Very frustrating.

  Response from the owner

  Hi Valencia, We are sorry this is frustrating and thank you for pointing out this problem. We are currently redeveloping our website to be more mobile friendly and address these issues. In the meantime, we are happy to help you make a payment by phone. Please call us at: 505-345-3371. Thank you.