What Noisy Cats Are We

I’m sure this is common knowledge but just in case, here’s some useful info:  You can reduce the interest rate on your Direct Loan from the US Department Of Education by .25% if you just sign up for them to auto-draft your checking or savings account every month for the payment!  It sounds like a small amount but a quarter point over time adds up, and this blog is partially about watching every penny.

I just did the sign-up and it’s really easy.  I’m sure you can do it over the phone, but I did it by logging onto the Direct Loan website and going through the screen to add my checking account info.  They said to continue paying normally (I use BoA’s BillPay service online) until I recieve a notice in the mail.

Easy to do, and a quick way to save some money.

p.s.  Don’t do this if you carry such a low balance on your checking or savings account that you’ll risk overdrafting if you forget about this auto-pay!