Prior to 10/22/12, when a student logged on to their Sallie Mae web account to make a payment, they could decide for themselves how their money would be applied to their loans. If a student wanted to pay extra on one or two loans to shorten the amount of time it would take to pay back, they could do that.

Now, things have changed. When a student makes their payment, that money is divided evenly among all of their loans. This means that if a student wanted to allocate a larger amount of money to pay down the loan with the highest interest rate first, they can no longer do that. The longer a student holds a loan, the more interest they pay.

Sallie Mae stands to make even more money on every loan it holds, at the expense of students across the nation. Please sign this petition to demand that Sallie Mae give students a fighting chance by allowing the students themselves to decide how and when they want to pay down their loans.