I had a mini crisis today when I went to pay my student loans and discovered that they had gone up again for the third month in a row. I keep calling to change my payment and it's different every month. Apparently, I've used up all my time for repaying with interest only so I'm supposed to be paying on the full amount. I asked one person I spoke to today if there were any other options for lowering my payment and this is what she said "You could make a lump sum payment and lower your monthly payments."
I am not kidding. I told her I couldn't make an large one time payment as I do not have any money. If I had a stash of cash stored away, I wouldn't be calling to lower my payments. I would be PAYING MY BILL.
I hate to be a little bit judgemental but I really hate the fact that Sallie Mae outsources all their calls to another country, India, I believe. No one really knows what is going on, as I spoke to three people before I found out what was going on and when I called a 4th time, the man I spoke with managed to change my loans to a lower payment. I have no doubt that they will be at the same rate next month so I know I can't keep doing this forever. But I will probably enroll in two classes next semester so I can buy myself some time. We can't afford my student loans at the full amount if CS doesn't have a job. It's frustrating that I have run out of options. I want to pay my loans but how can I on a part time salary? I don't want to pay thousands of dollars in interest either. It's a terrible system.
I wish that my college had been honest about the cost of paying back tuition. I wish they would have sat down and explained it to me when I went in every semester to work out my finacial aid. I should have had more grants and scholarships. I should have gone to a college I could afford. I know it will work out but I really hate the time in between.