15 November 2009
Sunday Sunday Sallie Mae
Okay - Its Sunday again. I am trying to make plans. So far, my big plan is a big cup of coffee tomorrow morning then I have to call Sallie Mae.
Sallie Mae isn't my aunt or anyone's Aunt for that matter. The people that have answered the phone for me there have been amazingly helpful, but still. It takes all day and I have to find out where my payments to them went and find out what it means that BB's loans were bought by the Department of Education - the letter says its a good thing. Hmm - that remains to be seen. Mostly, I want to find out where my payments went, because they aren't reflected in the Late Notices I received this week. Did you know that college loans have changed? Now you have to pay the interest on them every month until you graduate then start paying them off. I think that change is going to put college out of reach for many kids, but that is a whole 'nuther discussion.
This is what happens when you put your kid's college money into a state guaranteed college savings thing that is terrific, but your kid decides to go to school overseas. Instead of having the tuition room and board all paid for, he is racking up debt every month. Big Debt. I have mixed feelings, but it has certainly changed how I look at saving for college.
I have already started telling the girls that I won't be saving any money for their college. And they need to start planning to compete for scholarships. BB always knew that he had college paid for so I think it affected how he looked at scholarships, SATs, everything. Then again... Personalities are different. He loves his school and as far as I can tell he is happy, learning, and being challenged. What more could a mom ask for? Besides not having to call Sallie Mae.
Labels: after high school