So I logged in to check my federal student loan balance yesterday. Here’s what it looked like:

My heart skipped a beat.

The next payment due: $0. Current amount due: $0.

My mind jumped to the only logical conclusion: Did some rich benefactor swoop in and pay off my student loan debt?!

Then my eyes glanced over to the right of the report.

Last Payment: $7,732.76

Did I accidentally make a $7,732.76 student loan payment?!

Oh. No. I certainly don’t have thousands of dollars sitting in my checking account. I must have accidentally signed up to pay the entire balance! I was freaking out. (See my reaction below.)

Turns out, the feds sold my loan to a private company. But they didn’t bother to tell me that on the website. What looked to me like my loans had disappeared was really just a balance transfer. Don’t toy with me like that, Department of Education!

I guess I didn’t make a $7,732.76 payment (good news), and I still owe them thousands of dollars (not so good news). At least now I know what it feels like to be debt free, even if just for a second 🙂

Interested in refinancing your student loans?

Lender	Rates (APR)	Eligible Degrees	More Info
	2.47% - 7.80%	Undergrad & Graduate	Visit Sofi
	2.47% - 6.32%	Undergrad & Graduate	Visit Earnest
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	2.48% - 6.25%	Undergrad & Graduate	Visit Commonbond
	2.57% - 8.69%1	Undergrad & Graduate	Visit Citizens