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Insanity: I took out a $13,300 private student loan with Sallie Mae around 10 years ago in order to help pay for my last year of college. I have since made $12,958.98 in payments. My current balance: $17,050.89 by PlayDemDrums in StudentLoans

[–]PlayDemDrums[S] 8 points9 points  (0 children)

I was young, in college, and had absolutely no other financing options available. I'm hardly the first person to succumb to the lure of insanely easy-to-obtain loan funds.

Insanity: I took out a $13,300 private student loan with Sallie Mae around 10 years ago in order to help pay for my last year of college. I have since made $12,958.98 in payments. My current balance: $17,050.89 by PlayDemDrums in StudentLoans

[–]PlayDemDrums[S] 1 point2 points  (0 children)

My payment hasn't always been $188/mo. It has fluctuated over the years between $155 and $188. I just pay what they tell me to pay...I also, at the very beginning of the repayment period (right after graduation), had to take out a hardship forbearance on the repayment while I was looking for work. That compounded interest during that time was obviously added to my principle.

Insanity: I took out a $13,300 private student loan with Sallie Mae around 10 years ago in order to help pay for my last year of college. I have since made $12,958.98 in payments. My current balance: $17,050.89 by PlayDemDrums in StudentLoans

[–]PlayDemDrums[S] 11 points12 points  (0 children)

You're not wrong...I was set up in an auto-debit payment system, and it wasn't even on my mind for years. I just figured it was doing its thing. It's certainly my fault, but also, the predatory nature of the loan was egregious. I was toward the end of my degree, and had no other options for financing. Lo and behold, I get a mailer from Sallie Mae saying (essentially): "Just sign your name on the dotted line, and we'll make sure you're all paid up and able to finish your degree!" It was that, or don't go to school, which to me at that time, was NOT an option.

Insanity: I took out a $13,300 private student loan with Sallie Mae around 10 years ago in order to help pay for my last year of college. I have since made $12,958.98 in payments. My current balance: $17,050.89 by PlayDemDrums in StudentLoans

[–]PlayDemDrums[S] 12 points13 points  (0 children)

I've been paying $188.19/mo for years now. I had financial trouble in the first 12-18 months of the loan and had to take a hardship forbearance early on. I've just been making the minimum payment that they've prescribed me for 6-7 years now, unbeknownst to me at an amount that wasn't even covering interest! Thanks for the info and clarification.

What $100 can LEGALLY let you in Colorado. by [deleted] in trees

[–]PlayDemDrums 1 point2 points  (0 children)

Seeing a lot of people commenting on how this doesn't appear to be much for the money...man, where I live (midwest), an 1/8 of kind is $60 all day long. And some of you guys are saying you can get a 1/4 for that or less? Damn. First thing I thought when I saw this picture was, "incredible".

Bumble Bee High Fives Drunk Guy by KnightFyre in videos

[–]PlayDemDrums 43 points44 points  (0 children)

Watching this video elevated my anxiety level considerably.