I sometimes pay a little extra on my student loan and I never noticed this before but what Sallie does is take the Money and hold it for you and then use it to pay next month’s payment. Should you pay them extra again they would hold the larger amount for the next payment. Now times this by how many people would pay a little over not realizing they are playing a little shell game and they could make a ton of money just off the interest of holding your money for you (how nice of them).
I am sending them an extra check this month with the account and specific loan number and instructions to apply to interest & principal. I wonder if they can handle that…
