Time for another student loan update! October was great month for me with student loans. That “mistake” I made a couple of weeks ago turned out to be a blessing.
Sallie Mae
My balance on Sallie Mae in the last update was $5,403.24. And as of the time of this writing, I’ve reduced that amount to $4,816.07. That’s a $587.20 reduction!
In my previous update, I initially decided to let go of the week after I made a double payment. However, I changed my mind and made the payment anyway for the week after. Instead of only doing 4 weekly payments for this month, I ended up doing 5 payments.
Not gonna lie though, I was a little anxious when I saw the double payment got charged in my bank account. But then again, that was still a blessing in disguise because now, my timetable for completely paying off Sallie Mae is moved 1 week earlier.
College Avenue
Now, I don’t have an exact amount of my College Avenue loans at the moment because their website is still (at the time of this writing) under maintenance. They seem to be upgrading to a new website.
However, the last record I had with CA was 2 months (yes, i suck at recording this guy) at $3,215. And since I’ve been paying consistently $15 a week to this loan, we can assume that the amount would be around $3,125, which includes any interest accrued.
(I will update this once the website is back up.)
EdFinancial (Fed Loans)
There aren’t any big changes to this loan. Last month’s balance for my Federal Loans was at around $11,800 , but now it has fallen to $11,718.14 due to a $75 payment I made in October 28th.
Balance as of November 1, 2020 is $19,865.14*.
*Not accurate because of College Avenue delay.