I Finally Paid Sallie Mae Back!

Have you seen the music video by Dee-1. It is hilarious. I laughed the whole time. Check it out.

I laughed until the video ended and I realized I did not pay Sallie Mae back, yet. In fact, Sallie Mae changed its name to Navient and started calling me under this new name. I was completely shocked. Uncle Sam has never changed it’s name. Why would would this government department change it’s name.

I did a quick google search and realized that Salle Mae was a private company. Did you know that? That shocked me! It led me to think that the amount of money I pay every month may be more focused on profits than it was on me being able to pay my loans back.

I did some research and realized that my loans were broken down into smaller chunks and each assigned a different interest rate. That is like having 5 credit cards at one time versus having one credit with one large balance. The 5 credit cards can rise up and charge you more interest over time. This effect creates the illusion that we are paying off our loans every month but instead the balance for the loans is not moving much. Especially if we are paying the minimum balance.

Have you ever talked to a Sallie Mae agent and they suggest, well you should at least pay the interest whole you are on forbearance. Translation, you should at least pay my light bill even though you do not live in my house.

I think there are a lot of questions to ask about the student loan industry. DLWTF is here to bring you better knowledge and options to manage your student loans so your loans don’t start to manage your life and paycheck. We got your back.

Find our more information about our efforts to END STUDENT DEBT at DebtLikeWTF.COM

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Best,

Professor Miles

@DebtLikeWTF