Sunday, August 9, 2009

Before signing with Sallie Mae...know what the interest is going to be!

Not what it is now...and not what they tell you it is.

When I was in high school, nobody told me about compound interest.

Just like what was said in the 60 Minutes borrow $100 with an 8% interest, you're paying back $108.

With Sallie Mae and their compound borrow $'re paying back $250.

Like I said before, chase your dreams...but NOT at any cost...and definitely don't let Sallie Mae ruin your dreams. Don't believe their hype. There are other ways to pay for a dream without them.

And just know, even if you think you sign with a different student loan company, you're not out of Sallie Mae's grasp...they're known to buy out other student loan debts and can get you that way as well.

Break the cog

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