Sallie Mae Not Applying Payments to Principal

Sallie Mae doesn't seem to want you to pay down your loan early! Make sure that you check how your extra payments are being applied to your Sallie Mae loans every month. They usually will take your payments and move forward your due date instead of applying the payment to your principal. You can double check this by looking at your monthly statement and by checking online to see when your next due date is.

If you find out that they have done this contact them immediately in every way you can (phone, email, letter, etc.) to get the payment applied correctly.

This is my letter to Sallie Mae:

Dear Sallie Mae,
I believe there has been a grave misunderstanding. All extra (advance) payments that I made on this loan are intended to go to the principal and the principal only. I noticed that several of my due dates have been advanced and that the extra amounts that I sent in have not been applied to my loans when they were sent. I must ask that my extra payments be applied to my principal, not to advancing my payment due date.

Please fix this.

I am including this letter on my blog to encourage you to correct this situation faster.

Please post your thoughts, experiences, etc. below.
I would also love some advice on this! Thanks!