Tips in paying off Sallie Mae sooner:
1. Key is to make multiple payments each month. EDIT!! Please make sure the minimum due gets there before the due date. No use in making multiple payments if they don't get there on time.
2. If paying by check or money order please write specific instructions with your payment. "apply to principal only" or "principal only payment" etc. Anything that would let them know the extra payment is to be used to pay down your balance immediately, and not applied to a future payment. See #3
3. Keep an eye on your due date. Sallie Mae will sometimes move your due date months into the future when you start making extra payments. Please call and have this corrected. At the same time continue to send in extra payments. Check your payment history to make sure the principal vs interest breakdown is correct.
4. Please remember a due date months into the future isn't your friend. Make a payment each and every month or bi-weekly until your balance is 0.
5. I used to send my multiple payments a day apart. A $200 payment would be sent $100 today, and $100 the next day. Why? Just a preference. Both payments usually got applied same day, with the second payment going entirely to principal.
These are the things I did. They worked for me. Applying laser focus to Sallie Mae was key in getting rid of her. I sacrificed savings in 2011 in order to achieve this pay off goal.
Was it worth it? Hell Yes!!!