http://www.slmtrap.com/Posts/sallie-mae-lies Disscussion on a vile company Sat, 12 Nov 2011 23:59:23 +0000 hourly 1 http://wordpress.org/?v=3.3 http://www.slmtrap.com/Posts/sallie-mae-lies/comment-page-1#comment-1180 Jeff Wed, 17 Nov 2010 05:10:11 +0000 http://www.slmtrap.com/Posts/sallie-mae-lies#comment-1180 There is no ratio. Your interest accrues daily and whenever you pay your bill it will pay the accrued interest first then whatever is left over goes towards principal. There is a calculator to see what the dollar amount per day is for all you different loan #rs. My loan that I was doing the 10$ "micro payments" is actually paid off now . Paying early and often is really the key. For a simple example if your payment was 300$ a month and your loans accrued interest at 10$ per day and you waited 30 days between payments you would have 0$ applied to principal and be in debt forever. This is of course using BS numbers but it seems how it is designed to work. There is no ratio.
Your interest accrues daily and whenever you pay your bill it will pay the accrued interest first then whatever is left over goes towards principal. There is a calculator to see what the dollar amount per day is for all you different loan #rs.
My loan that I was doing the 10$ “micro payments” is actually paid off now . Paying early and often is really the key. For a simple example if your payment was 300$ a month and your loans accrued interest at 10$ per day and you waited 30 days between payments you would have 0$ applied to principal and be in debt forever. This is of course using BS numbers but it seems how it is designed to work.

]]> http://www.slmtrap.com/Posts/sallie-mae-lies/comment-page-1#comment-1171 SallieMae Hell Fri, 12 Nov 2010 14:31:43 +0000 http://www.slmtrap.com/Posts/sallie-mae-lies#comment-1171 Interesting that 370 payment, 283 went to interest, but only 86 into principle? Now look at the ratio of interest and principle for the $10 payments. And Sallie Mae wonders why its stock is going down the drain. Interesting that 370 payment, 283 went to interest, but only 86 into principle? Now look at the ratio of interest and principle for the $10 payments. And Sallie Mae wonders why its stock is going down the drain.

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