Screw you, Sallie Mae, and your unconsolidation-able loan

I know unconsolidation-able isn’t a word, but that’s exactly what it is. I received an email today from Sallie Mae notifying me that my interest rate just went up from 6.8% to 9.25%. WTH!  After I tried to consolidate 3 months ago and was told that I couldn’t, then they go and increase the interest rate?

Needless to say, I just submitted a online payment for the balance. Luckily, the balance at Sallie Mae was $4k. Now off to tackle the loans that I was actually able to consolidate. Yuck.

I am still interested in an MBA, but not sure how smart it is to spend $100k+ and whatever interest rate it fancies someone to charge. Getting out of debt just to jump back into it with another $100k ball and chain with no guarantee of a large salary increase or job security is mighty scary.

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