Over the past month I made 4 additional payments of 10$ each to one specific loan (the one with the highest interest rate). I think to be more consistent I should pay the same amount at the same time and I will be scheduling that with my bank.
To say that the way Sallie Mae’s website shows you what is happening with your money is complicated when you pay them is an understatement. Frankly there are so many items that show up in the 5 separate payment histories that my head starts to hurt ( Again I think this is by design). I found this area for payment history (combined) and it shows the 4 10$ payments I made and the interesting item to me is that I usually make a payment of ~370$ for my bill and historically from this screenshot about 150$ makes it to principal. This month 233$ of my 370$ payment was applied to principal…that is 83$ more than normal… Me being a stock market dabbler that is the equivalent to me buying stock for 40$ then selling it in less than 30 days for 123$ because the original 40$ went into the loan as normal but then I got the bonus of the extra principal of 83$. Frankly I need more consistency to gauge this because I have seen some weird stuff in my account over the last couple of weeks and I don’t know what is going on. I would love to get an explanation as to why only 25$ out of 370$ was applied to principal last October…
