Friday, April 25, 2014

Best news I've had all week

Today I got an email from Sallie Mae telling me that one of my student loan payments has been reduced by $3.61 a month--bringing my monthly total to just $453.13!

But the really good news is that I've only got twelve years of repayment left.


Servetus said...

That's horrifying.

Flavia said...


The really horrifying part is that I don't actually have a crazy-high debt load, relative to what many students have these days: I graduated with somewhere between $60-65K, and on a 20-year repayment plan am now down to $38K. I have no idea how massive the monthly payments must be for people with two or three times my student loan debt.

Withywindle said...

When my creditors are screaming for their dough
I'll be proud to tell them all where they can all go
They won't have to scream and holler
They'll be paid to the last dollar
Where the endless streams of money seem to flow
I'll be glad to tell them what they can do
It's a matter of a simple form or two
It's not just renumeration it's a liberal education
Ain't you kind of glad that I'm in debt to you

Bardiac said...

That's a lot of monthly payment though, even though it wasn't a huge debt initially. Like you, I dread to think how much someone with 100K in debt pays each month. It's daunting!

Does your interest rate adjust in some way?

Flavia said...




My interest rate is low, and fixed: 3.88% for the life of the loan on about 2/3 of my debt, and 4.25% on the rest (that portion was a private loan, so it wasn't eligible for the lowest consolidation rate).