Totally agree. Why not get rid of some of the extraneous information in the table first? You don’t need MM/DD/YYYY format for every date. You don’t even need the year if you are displaying information for this year, which is probably the most likely in a payments table.
So instead of “02/01/2015" and “01/01/2015 - 01/31/2015” use “2/1” and “1/1-31” … or even “Feb 1” and ”Jan 1-31”.
I assume that under payments they would normally have some other description other than “Payment #1”, “Payment 2”, etc. - otherwise that is a waste of space as well.