Nate
Remember when we all thought student loans were, let’s say, a tad high? Well, hold onto your hats because a Boston mom’s recent student loan TikTok video is about to send shockwaves. This timely revelation is especially poignant, as the mom reveals student loan payment details right when such payments are gearing back up for many borrowers this month.
So, here’s the scoop: This mom reveals a breakdown of the “insane” price her 19-year-old daughter’s staring down for just one year of college. Ready for this? A $28,000 student loan that’s set to balloon to over a whopping $127k. Say what?
She breaks it down for all of us, “Let’s lay out the facts, folks, and see the crazy stuff these banks are serving up to kids just trying to snag a decent education.” You can practically hear the disbelief in her voice.
Even after a $10,000 financial aid gift, her daughter still needed to find a way to plug that pricey college bill. And here comes the twist: The loan company tried to slide in an interest rate of over 16%.
Do the math; the finance cost alone is a cool $99,000. As our Boston mom says, “My 19-year-old is on the hook for $127,777.11… and all she borrowed was $28,000. Let’s all let that marinate for a sec.”
Like many her age, this young college-goer wants to hit the books and get that degree. But how many realize the long financial road these student loans set them on? And remember, we’re talking about one year here.
For everyone groaning about students hoping for a break on their loans, this mom’s got words: “You, my friend, are part of the problem.”
Want the full tea? View her TikTok video here:
@stacy.health.happiness Kkisa trying to get an education shoulsnt have to pay four times the amount back, putting them in debt for 40-plus years so the bank CEO cab have five vacation homes, its om when big companies get loans forgiven but so many complain about kids getting forgiveness from predatory loans #salliemae#college#bankloans#settingkidsupforfailure#enough
Here’s what some viewers had to say in the comments:
