An Update to My Less Depressing Post
March 17th 2008 10:02
Last week I was stressing about loans that were coming in June. I sent out some emails to figure out some math and things. Here's what happened.
By Thursday night I had already received reply emails from Sallie Mae and the loan consolidation place!
Sallie Mae said:
"Based on your current principal balance and interest rate, your monthly payment amount would be approximately $138.00. This amount is just an estimate and will change when your loans enter repayment."
I think I could deal with $138 or something around that amount. So that was good news. If it changes so drastically that my payment would be above $200 then I'm in trouble.
The other email didn't really answer my question about the interest being included to make the $20,000 mark. But I had kind of figured it would include that, plus I called Mom to see what she thought and she said that it's everything I would need them to pay off to make one loan - so interest is included. That means I have $20,000 worth of federal loans after all.
For now the stress is gone. I have a somewhat plan. Yay me.
By Thursday night I had already received reply emails from Sallie Mae and the loan consolidation place!
Sallie Mae said:
"Based on your current principal balance and interest rate, your monthly payment amount would be approximately $138.00. This amount is just an estimate and will change when your loans enter repayment."
I think I could deal with $138 or something around that amount. So that was good news. If it changes so drastically that my payment would be above $200 then I'm in trouble.
The other email didn't really answer my question about the interest being included to make the $20,000 mark. But I had kind of figured it would include that, plus I called Mom to see what she thought and she said that it's everything I would need them to pay off to make one loan - so interest is included. That means I have $20,000 worth of federal loans after all.
For now the stress is gone. I have a somewhat plan. Yay me.
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