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Received a Student Loan Refund Yesterday: $1.57

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I think it is bad business cents to make a habit of spending $0.39 on postage to send out checks for small amounts. That’s right, my student loan provider sent me a check via First Class U.S. Postal Service mail — not even the pre-sort rate — for $1.57. Apparently, when loans are consolidated, there is a little bit of estimation when the payoff amount is determined.

I’ll try not to spend it all in once place. It’s not worth the expense in gas to drive to the bank to deposit this check until I receive another one. These days, with PayPal, ETF, and Direct Deposit being practically the only ways I receive money, getting a check in the mail is an infrequent occurence.

Updated February 6, 2012 and originally published November 7, 2006. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.

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About the author

Luke Landes, also known as Flexo, is the founder of Consumerism Commentary. He has been blogging and writing for the internet since 1995 and has been building online communities since 1991. Find out more about him and follow Luke Landes on Twitter. View all articles by .

{ 3 comments… read them below or add one }

avatar andy

I’m expecting to get a hospital bill Real Soon Now for 59 cents. My wife had some lab work done, and according to the statement I got from the insurance company, the difference between their “settlement” with the hospital and what they’ll cover is $0.59.

$0.29 in postage to send the bill (that’s what was imprinted on the last bill they sent me), plus the time & materials to print & process the bill, plus the time to process my payment and whatever their bank charges per-deposit…they’ll clear maybe 15 cents out of it all.

Why bother?

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avatar Doobie

Please, you’ll just blow that $1.57 while bluffing with a pair of threes.

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avatar Luke Landes ♦127,485 (Platinum)

Andy: I guess overpriced medicine and procedures will help pay for mailings like that. :-/

Doobie: A pair of threes beats a pair of deuces… there was a chance.

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