Student Loans

We've been doing really well with our student loans. I have taken charge to make sure our payments are made on time (automatically, of course) and that we are taking a larger amount out than the minimum. Yes, that's all fine and dandy but today I devised a plan (based on my own calculations of a wacky Group A, Group B loan situation) that will get both loans paid off in 6 years from today.

That. Is. Exciting.

My main concern though is that my 7 separate student loans and Gary's 4 separate student loans are batched together in two groups. You'd think that these two groups would have the same interest rates, but alas, they do not. I'm pretty sure we are getting screwed little by little each month because the higher interest rate loans are not having much reduction whereas the ones with the lower interest rates are. But seriously, I have no control over that. Our loans were batched together from the start and I have no say other than how much (in total) I want taken out for both loans. Annoying.

Secondly, my loan has recently been transferred. Imagine my excitement when I saw this:

Nope, I didn't win the Sallie Mae sweepstakes. Sad day.

Rather, it was transferred to a company called MOHELA.  I'm not sure why mine was and Gary's wasn't but I'm going to get annoyed real fast. I liked being able to use the same website for both accounts. It made everything very easy. And can anyone tell me this is legitimate? I randomly got the email a few days ago and then saw the picture when I checked my previous servicer's website. I need to confirm that this is a legitimate servicer before I send my payment in a day or two. Yikes! That's the other thing, I REALLLY LIKE MY KIWIPAY! Automatic payments are awesome. Sending a check through the mail each month is annoying and I always forget. Case in point, my cell phone pymt check to my parents. Sorry, Mom & Dad! I finally got caught up this past month.

Still - 6 years. Yeah buddy.


Aimee said...

Ben's federal loans were transferred to MOHELA, as were those of one of my coworkers. Mine weren't. No worries though, they're legit. I think they are in the process of transferring a lot of loans and that Gary's and mine will soon follow. I totally agree though, I handle all our loan stuff and I miss having to deal with just one website!

v.wiest said...

Good to know! Thanks, Aimee!