So I finally paid off my agreement with CollectCorp out of Arizona for my US Dept of Education Loan. After 6 months of on time payments they have cleared my name from my credit and have redone my debt with the department of education once again supposedly making me elegible to receive US Education loans again if I so choose...
Bad news....I still owe a lot of money.
Principal Balance: $10565.07
Interest: $242.36
Fees (for the previous collectoins): $2630.52
Debt Total: $13437.95
My monthly payments are $125.17 a month...my total bill is 13437.95...so that divided by my month payment and I'll be all done paying it off in oh.....107/108 month (9 years or so) Gotta love an education...
At least the Fees will be paid off in 1-3/4 years and the interest paid off about 2 months after...so in about two years of paying my monthly fee I'll actually start paying on my true loan...man I wish I got all this when I was 18....
Now if I can double up my payment each month I'll be done paying it between 4 or 5 years...
Anyone want to share with me the powerball numbers? I'll share with you...I promise!
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