Positive Snowball Effect

To add on the good news from the past week and a half, I received a letter yesterday from one of my lenders, Discover Student Loans, congratulating me on my graduation. That’s nice, if late, but the really nice gesture is that they offer a graduation reward in the form of a 2% reduction in my principal balance.

They even gave me the option of depositing it into my checking account or applying it directly to the loan balance. I applied it to the balance. The loan is pretty substantial, too, which means the benefit to me is pretty big: $440! Excellent news, indeed. So, thanks to Discover! (I guess it really does pay to Discover.) Wells Fargo should take a page from Discover’s playbook.

Today, I spoke with a producer from Marketplace Money and told her my student loan story. She wasn’t sure if they could help, especially since I’d already spoken to an attorney who couldn’t offer any advice, but checked with a resident expert, and it turns out they might be able to help. We set up an interview for this Friday and hopefully, they’ll be able to shed some light on what my options are. I’ve got my fingers crossed!

I’m really liking this positive momentum, and I hope it continues! It’s a welcome change.

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