The Trainwreck that is my Account Balance


So many great things are happening in life right now, so I in no way mean to complain, but something has been weighing on my chest lately and so here goes.

Money.

Last week, I woke up to a text alert that my account had been overdrawn by $800. Panicked, I immediately logged in to see how this happened. Do you have a guess? If you guessed "Student Loan Full Monthly Repayment Amount," then you would be correct. 

You see, each year I get to go through the somewhat humiliating process of reapplying to the Income-Based Repayment Plan with the bank. Mind you, this is not the bank I borrowed from because these are my Federal Student Loans. But I got an email a couple of years ago that explained my loans were sold(?) to this other bank and now I would get to pay them back instead. 

But anyway -- once again, I get to submit paperwork that explains my meager wages can not cover a $1000 / month repayment for my student loan debt.

As a driven, intelligent, Masters-holding professional, this is a hearty stab in the gut because I basically get to remind the bank year after year that I actually have not been very successful in my career. Which is a cool feeling.

But back to the nagging feeling. My account has remained in the red (even after my paycheck came through last Friday). I am contesting the charge because it was wholly unauthorized but that takes time and here we sit. I have submitted the proper paperwork and made the proper calls. Most importantly, I have overly shared about all this on my blog. Nothing to do now but sit here and wait.

Do you have student loan payments? Do they make you crazy? Did you think you'd be a little further along in your career by now? Does the balance in your bank account stress you out from time to time? Feel free to get this song stuck in your head while you vent or commiserate or advise in the comments below. 


Sarah :: Plucky in Love

Sarah, aka "Plucky", blogs on the reg, unless she's on vacation or there's a Pretty Little Liars marathon or she's mulling over the implications of the phrase "on fleek." She can't live without iced coffee, a portable phone charger, or equal pay. Say hello!

10 comments:

  1. I want to go back to school but don't want student loans at 44 yrs old ... sigh...

    ReplyDelete
  2. Girl, I have student loans too, and it's such a pain! But holy MAN!!! $1000 a month?!?! That's crazy talk.

    ReplyDelete
    Replies
    1. I know!! I just got off the phone with the bank (again) and it's still not resolved! So lame.

      Delete
  3. I am in my second year of school and already looking at my student loans gives me a stomach ache. I am dreading when I have to start paying on them -- in fact I want to start paying on them now in hopes that they don't get out of control.

    ReplyDelete
    Replies
    1. That's a good plan! I didn't really have any option but take out loans for my education and now it's just this super overwhelming debt that feels completely unmanageable. I'm not quite sure what to do!

      Delete
  4. Oh no! Gosh that's awful! I was really lucky, my job in college paid me pretty well and let me work full time in the summers. That was by no means "fun" but it helped me to pay for more than I ever could have otherwise. My first two year are when I took out loans. Luckily my second two were covered by financial aid and scholarships. My student loan ended up being really really small. Which is great. Seriously, I got so lucky, most people I talked to had $64,000 some to pay back, I ended up with about a sixth of that. So, mine is so small we don't have to worry about it too much. But I hate the interest, because I feel like I could easily double or triple my payment and get it paid off so much faster... but I like to buy things, and have coffees out, and travel... soooo that doesn't happen. I haven't really decided on grad school, but I have a feeling I wouldn't use my degree much. I am working a job in a field I don't really like.... that drives me crazy.... and it is not at all related to my degree. I hate that. That's why I am doing this whole Invitations / calligraphy thing I guess. Hoping to get that ball rolling. :) I worry about money all of the time. And usually for shallow reasons like "but I want a Europe trip AND a house... " in a whiny sort of voice. #allthefirstworldproblems Sorry to hear you are having troubles, but hey, how about that media kit?! That will get you some perks in the meantime while you pay for the not fun stuff! Bright side? XO -Alexandra

    Simply Alexandra: My Favorite Things

    ReplyDelete
    Replies
    1. You are so right! I felt guilty even typing up this post because there are so many good things happening! And we have a ton resources that a lot of people don't have. It just frustrates me that this pile of debt will be hanging around my neck until the end of my days. But at least I get to travel, right?? ♥

      Delete
  5. I'm proud of you for contesting rather than sitting in silence and going red red red red. You've got this with your side-hustle!

    ReplyDelete
    Replies
    1. Thanks, dude. They're still giving me the run-around, actually. I'm so annoyed! I'm playing the go-between and everybody says it's the other guy's job. Ugh!

      Delete