Yep, that’s me.
Let’s talk about my student loans for a minute. (To anyone considering borrowing money – don’t do it. If you absolutely HAVE to, seriously consider the repayment amount BEFORE you borrow. Then borrow the bare minimum you have to.)
Anyway, I’ve already bored you with a portion of the consolidation drama. What a pain in the ass. Now that I’m in repayment and everything is “set”, this should be easy right? Nope.
I went to school at a bad time. Interest rates were HIGH. So now that I’m in repayment my interest rate is like double what any current going rate is, and you can’t refinance this type of loan. Awesome. Thankfully my lender offers incentives: 0.25% reduction if you enroll in auto-debit. 0.8% reduction once you make your first 12 payments, on time and in-full.
That’s over 1% off my rate. YES PLEASE.
So I signed up for auto-debit. Apparently it takes them “60ish” days to get that set up. There’s a very clear disclaimer once you submit your info: You are not enrolled in auto debit until you receive something in the mail. Continue paying as usual until you get this notice.
So I don’t get a notice. It’s been over 60 days, but there’s nothing in the ‘scheduled payments’ section. And no mail has come to me saying I’m enrolled. 2 days before the due date, I freak out. I can’t miss this due date or I lose out on a 0.8% interest rate reduction. And over 30 years, we’re talking about a substantial amount of money saved. So I scheduled a payment.
The payment posted.
I went to my parents house and saw that I had mail. SHIT. My loan paperwork gets sent to their house. I open the letter. FUCK. I’m enrolled in auto-debit. FUCKFUCKFUCKFUCKFUCK. They auto-debited my account the day after I made a manual payment.
Yep. I’m retarded, and I paid my loans TWICE this month. TWO LARGE PAYMENTS!
Because I borrowed so freaking much, I paid more on my loans in June than I did on my rent. So now what? I’m already broke, this was NOT a good time for this to happen. (I’ve checked – auto-debit will still collect my money on the next due date.)
Basically there’s nothing else that can be done but sell a kidney.
Maybe that’s drastic. But I am selling TONS of stuff on eBay right now in the hopes of recouping some of that cash so I can pay my July rent.
THIS, ladies and gentlemen, just proves that you should never borrow money. The end.
