I’ve got some great news!

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?


5 Responses to “I’ve got some great news!”

  1. Aaron Says:

    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.


  2. krystal Says:

    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!

  3. Big Saver Says:

    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!!

  4. JW Thornhill Says:

    AWESOME! That is really good news. $77 leaves alot more for your snowball.

  5. SavingDiva Says:

    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.

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