Envoy or PSA
11-20-2016 | 04:42 PM
#111
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From: CRJ FO
Well Envoy's flows might, you guys are flowing the highest number and therefore will likely be the first to feel any sting IF American decides to meter the flows. I do not think they will however. They can't solve their regional staffing problem by stopping the flows. They will just exascerbate them because if the flows stop, attrition will skyrocket and new hires won't come.
11-20-2016 | 07:29 PM
#112
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Do you even make sense to yourself when you read your own posts?
11-21-2016 | 05:38 AM
#113
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The flow is not going to "sputter." It's contractual. Why don't you stop your inflammatory posts? I'm not sure that you even work here, and if you do, you are most likely some disgruntled old timer with an ax to grind like most posts regarding Envoy.
11-21-2016 | 05:45 AM
#114
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The reason the flow likely won't sputter is because the flow is a free recruitment tool, and the flow allows the company to semi-control attrition rates and therefore better plan our staffing. It is not because it is contractual. The contract is just slightly better than meaningless.
11-21-2016 | 11:51 AM
#115
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Troll feeding troll. I must admit, your troll game is strong.
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11-22-2016 | 03:03 AM
#116
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11-22-2016 | 05:28 AM
#117
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If you know how loans work that makes zero sense. If you look on Sallie Mae's website they'll tell you that interest accrues daily. So unless they're banking your extra payments and applying it towards later, not yet accrued interest (spoiler alert: they're not), any additional amount above the interest portion of you payment gets applied to principal.
https://www.salliemae.com/student-lo...ng-off-a-loan/
Sallie Mae: How To Apply Payment To Principal - Graduating in Debt
Google "Amortization Schedule." Bottom line, your payment is allocated to varying amounts of principal and interest across the life of the loan. You do pay more in interest earlier in the life of the loan, but anything extra above your calculated payment should be applied to principal.
https://www.salliemae.com/student-lo...ng-off-a-loan/
Sallie Mae: How To Apply Payment To Principal - Graduating in Debt
Google "Amortization Schedule." Bottom line, your payment is allocated to varying amounts of principal and interest across the life of the loan. You do pay more in interest earlier in the life of the loan, but anything extra above your calculated payment should be applied to principal.
Yep. From what I've heard, if you pay more than your monthly payment, Sallie Mae will apply the extra amount them to future payments. If you want them to apply the extra money to principal you have to call them and specifically ask for it. They are obviously not gonna make it easy for you to pay down your balance as quickly as possible.
Also, depending on your interest rate, refinancing might be a good option for a lot of people. I couldn't get a cosigner when I first applied for my Sallie Mae loan so my rate was a ridiculous 10%. A few months after finishing flight training and getting my first job, I was able to refinance it at about 6% with another bank.
11-22-2016 | 02:36 PM
#118
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Joined: Jul 2015
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Why would you even consider going to PSA? To add to what P4P has outlined above:
Upgrade time dropping like a rock. Likely 2 year Captain's at Envoy very soon.
Flow goes to 40 per month in January.
LGA is a brand new base and we have another one looming. Think sub tropics.
Hire here and your ticket to AA has been punched. One interview and your career is off and running. You'll be in an AA cockpit in under 6 years.
So, why was it you were considering PSA again?
Upgrade time dropping like a rock. Likely 2 year Captain's at Envoy very soon.
Flow goes to 40 per month in January.
LGA is a brand new base and we have another one looming. Think sub tropics.
Hire here and your ticket to AA has been punched. One interview and your career is off and running. You'll be in an AA cockpit in under 6 years.
So, why was it you were considering PSA again?
11-24-2016 | 08:12 AM
#120
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Joined: Feb 2007
Posts: 2,610
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Yep. From what I've heard, if you pay more than your monthly payment, Sallie Mae will apply the extra amount them to future payments. If you want them to apply the extra money to principal you have to call them and specifically ask for it. They are obviously not gonna make it easy for you to pay down your balance as quickly as possible.
After some bonuses here at PSA I was able to finally pay that off with a lump sum.
Here's a graphic from Sallie Mae about how extra payments are applied:
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