Nickel and Dimed

3 Dec

I sent what I thought was my final undergraduate student loan payment on Saturday.  I bragged about it on Twitter.  I was all prepared to brag about it in today’s post too.  This morning, I logged into my account to get a screenshot of that $0 balance.

Instead, I found this:


I see what you did there, loan company.  You charged me two days’ interest because I sent a payment on a Saturday.  Well played.

If I submit a payment for 32 cents, it won’t post until tomorrow.  I’ll accrue another few cents in interest in those 24 hours.  Then I’ll have to send another payment for a few cents, which will take another 24 hours to post.  As Nelnet doesn’t allow me to pay over the current posted balance, this cycle is going to continue until we reach fractions of a cent (and honestly probably for a while after that).

It makes the exchange I had back in May with the loan company on Facebook a bit more ominous:


Reread that second line of the reply one more time.  The “…we wish we could keep you forever!” part.

Like I said: well played, loan company.  Well played.

So while I figure out how to beat compound interest, and send a loan payment for 32 cents, here’s a panda taunting Mondays.

Taunting Panda


5 Responses to “Nickel and Dimed”

  1. Kristen December 3, 2012 at 1:22 pm #

    wow…this makes me nervous about paying off my loans…

    • Katie December 3, 2012 at 2:17 pm #

      I’m sure your loan company has a far more reasonable online payment system. Unless we have the same company. In that case, yeah. It’s going to be fun.

  2. NelnetDesiree December 5, 2012 at 3:42 pm #

    If you would like to give us a call here at Nelnet, we can definitely look into your account for you. Ask to be transferred to the Solution Center. 1.888.486.4722

    • Katie December 5, 2012 at 5:30 pm #

      It’s been sorted out already. See tomorrow’s post for proof. 😀


  1. Nickels & Dimes…Selling that Makes More “Cents” by, Cheri Roberts « Cheri Speak - December 9, 2012

    […] Nickel and Dimed ( […]

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