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I totally understand the hell. when I joined the navy one of the bonuses they offered - that i snapped up quick as can be - was a year off paying interest.
Yep. Joining the military can - or it could back then at least - give you a grace period of one year on your student loans. You still had to actually apply for it but.. it came in handy. And yes my loan ended up with SM too.
I ended up putting my payments to SM on a direct withdrawal... tryng to remember the actual military terminology for it... AH! Allotment! That's the phrase.
The way allotments work, the money is taken directly out of your paycheck so you never even see it and is sent to the account of the person you're paying. So I had it set up to pay SM a set fee out of every paycheck (every 2 weeks) so that I didn't even have to THINK about how much I owed them, or about late fees.
In fact when I first set it up, Sally Mae wasn't even that well known - the DK (disbursing clerk) tried telling me, "You can't set up an allotment to a person like that!" until I explained it was the company who had purchased my student loan. Yeah... he thought I was just sending money to some chick named Sally Mae... O_o These days everyone knows who they are but back in the mid 90s not so many people knew.
End result... I stopped hearing from them until the loan was paid up. Although not without some heartache before I started the allotment ... cos yeah i was forgetful about the bills really. until i pulled my head out of my ass and decided to handle it in such a way that i didn't even have to think about it - didn't even have to worry if there'd be money in the bank cos it came out of my check before it hit the bank.
Yep. Joining the military can - or it could back then at least - give you a grace period of one year on your student loans. You still had to actually apply for it but.. it came in handy. And yes my loan ended up with SM too.
I ended up putting my payments to SM on a direct withdrawal... tryng to remember the actual military terminology for it... AH! Allotment! That's the phrase.
The way allotments work, the money is taken directly out of your paycheck so you never even see it and is sent to the account of the person you're paying. So I had it set up to pay SM a set fee out of every paycheck (every 2 weeks) so that I didn't even have to THINK about how much I owed them, or about late fees.
In fact when I first set it up, Sally Mae wasn't even that well known - the DK (disbursing clerk) tried telling me, "You can't set up an allotment to a person like that!" until I explained it was the company who had purchased my student loan. Yeah... he thought I was just sending money to some chick named Sally Mae... O_o These days everyone knows who they are but back in the mid 90s not so many people knew.
End result... I stopped hearing from them until the loan was paid up. Although not without some heartache before I started the allotment ... cos yeah i was forgetful about the bills really. until i pulled my head out of my ass and decided to handle it in such a way that i didn't even have to think about it - didn't even have to worry if there'd be money in the bank cos it came out of my check before it hit the bank.
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