Seriously. She is pretty much the epitamy of the ANTI Christmas Spirit.
1) My payment due date every month is the 24th. Who does that? You know some evil little person, in their evil little cube somewhere laughed when they sent me that first letter in the mail stating that my first loan payment was going to be 12/24/2008. They giggled to themselves and probably said, “Merry Christmas Brandi….bwahahahahahahahahahaha”….bastard….
2) Interests rates always seem to hike during the holidays. Most of my loans are locked in at a fixed rate. HOWEVER there are a couple that are of the ‘variable interest rate variety’ (oh Dave Ramsey where were you when I was in college!!?!?!???!??!) and those rates almost ALWAYS go up in December/January. What is up with that Sallie Mae? Who’s pockets are you lining with my money??? You certainly aren’t donating it to charity…
3) Every year in December I have the opportunity to go back through my payment history and figure out how much of it went towards interest and how much of it I can claim on my taxes in January. (I’m a nerd…don’t even pretend like that surprises you). And every year I almost cry when I realize that it’s about 50/50. All those huge payments I make (the required ones…not the ‘extra’ ones) only actually go towards my principle balance half of the time. So lets say in a year I pay $4500 (it’s actually a lot more than that because I am in fact a debt paying nazi and I kick ass at budgets and numbers…I’m also really humble…obviously). Only about $2200 of that actually goes to pay back what I really borrowed. The other $2300 of that is extra I pay for having borrowed it in the first place. Sallie Mae is like a damn loan shark. If I ever miss a payment I am almost positive some big asshole named Borris is going to come to my door with a claim on my first born son or something incredibly cliche like that.
SO in short. Sallie Mae = Christmas Spirit KILLER.
I logged on to my account today, like I do everyday, and checked my balance. It’s a REALLY great way to remind yourself why you want to pay them back ASAP. Because that number goes up every day. Seriously. EVERY day you don’t have that balance paid off, there is a small amount of interest added to your balance. For me, personally, at the principle balance I still have unpaid it goes up about $7.50/day.
To put that in perspective, at the end of the month (or by the 24th when I pay it…) my ‘outstanding balance’ goes up about $200. Give or take, depending on interest rates and how long I go without making a payment. I very rarely wait til the 24th to pay it.
SO going into the New Year I have a couple of things to say:
1) Brandi needs to get her ass in gear and pay off that student loan balance ASAP. (which btw will be a little easier with the Raise I got last week…YAY!!)
2) Sallie Mae – You can kiss my ass.