In this post, I ranted about my student loan payments. When I logged on to the Sallie Mae website today, my payment has been lowered to $77! I applied for and was approved for the Income Sensitive Repayment Plan, so I’m not paying half my rent to the student loan.
I guess I should be happy, though, my BFF from NC has a payment of $677 per month for her student loan! Can you imagine?
May 30, 2007 at 10:31 pm
Sensitive repayment? That’s interesting…
Glad to hear that you were able to get your payment lowered. With the gas/electricity bill, I’ll bet that you were in a pinch. (Wasn’t it both gas and electricity?)
By the way, level billing means that they bill you a constant amount every month, but one month each year is used as a recovery. So if you paid more, then they won’t charge you as much, but if you didn’t pay enough, then they will hit you with a charge to pay more. Spring is usually when they hit me with the “correction” bill… Maybe next month will be back to normal.
WOOTOFF!!!
May 31, 2007 at 4:18 pm
I’ve never heard of ’sensitive repayment’ before, but I gather it’s for people who fall within a certain income bracket?
At any rate, $77/month payments is pretty darn low! Congrats!
May 31, 2007 at 10:24 pm
I’ve heard of this. I believe it’s called the “income sensitive repayment” plan. It’s completely based on your paystub. As you make more money though, the payments can really start jumping up.
I am floored at your friend having to pay $677 monthly. WOW!!
June 3, 2007 at 6:31 pm
AWESOME! That is really good news. $77 leaves alot more for your snowball.
June 4, 2007 at 10:15 am
I don’t have any student loans, and with posts like this I am very thankful to my parents. I couldn’t imagine a $677/month payment.