Dude! Student loans have been sold AGAIN! Well, not technically *sold* since the Department of Education still owns them. So some back history for you: apparently as part of Obamacare, there is this provision for student loans, saying that all student loans can now be managed by private companies, even though they are still ‘owned’ by the government. And these private companies of course get some dough in the process.
Which, whatever. That’s fine. Except that our loans keep getting shuffled around to all these different companies! And there are always mistakes made, and we can’t make any payments during the transition period which is a HUGE pain. So yeah. It is happening again.
We were with Edgeucation Loans (and before that, with Direct Loans), and are now transitioning to Mohela. Which, doesn’t surprise me. I think Edgeucation bit off more than they could chew when they signed up for this whole student loan servicing thing, so it makes sense that they are now leaving the market and selling all the loans to Mohela.
Anyway, it totally sucks because August was going to be this big smackdown month, but now we are just accumulating all this money until we are actually allowed to make a payment. I guess it is pretty badass to see this huge (growing) number in our bank account. (But also kind of sad, because its like OMGGGGG if we didn’t have the student loans we could be billionaires!!!!!!)
I will be sure to keep you updated on how it all goes down. Oh, and to complicate matters further, I put in a 0% balance transfer to a credit card for some of the loans, and that got processed right when the transition to Mohela started. So my card is charged, but I don’t really know if the money ever got deducted from the loans….
Anyway! In other news, I won a sweet contest at my work’s health fair: a massive basket of produce:
We all had to guess how much it weighed, and the closest guesser won all the food! I guessed 32 lbs and it was really 31 lbs. Woohoo! I was so freaking excited, I wanted to win this so bad. So Mr WWW and I have been working our way through the whole thing. I am determined that NONE of it will go to waste! We’ve done good so far. I will post some pics of what we did with it.
Oh, and I will be coming back here with a PFJ recap. Spoiler: I kind of fell apart a bit at the end of the month, but I sure learned a lot and that’s something, right?