Beware Student Loans

Sallie Mae is not holding $1.5 trillion in student loans and students can rack up $50,000 to $100,000 in student loan balances in 4 years. Most new college grads can’t keep up their student loan payments.

College Tuition in Georgia

$4,078 Kennesaw State

$9,112 Georgia State

$11,818 UGA

$12,418 Georgia Tech

The cost for attending Georgia Tech for 4 years is $49,672. The cost for attending Harvard for 4 years is $200,000.

Students who go away for college have additional expenses that can run an additional $3000 per month and 9 months of school will cost an additional $27,000. If all of this is piled into a student loan, 4 years of this will cost an additional $108,000.

Student Loans charge an interest rate of 6%. The interest charge on a $50,000 loan is $3000 per year on the unpaid balance.

Sallie Mae charges variable interest rates that start from 4.00% APR to 10.86% APR¹ and Fixed interest rates that range from 5.74% APR to 11.85% APR^.

Norb Leahy, Dunwoody GA Tea Party Leader