Not what it is now...and not what they tell you it is.
When I was in high school, nobody told me about compound interest.
Just like what was said in the 60 Minutes interview...you borrow $100 with an 8% interest, you're paying back $108.
With Sallie Mae and their compound interest...you borrow $100...you're paying back $250.
Like I said before, chase your dreams...but NOT at any cost...and definitely don't let Sallie Mae ruin your dreams. Don't believe their hype. There are other ways to pay for a dream without them.
And just know, even if you think you sign with a different student loan company, you're not out of Sallie Mae's grasp...they're known to buy out other student loan debts and can get you that way as well.
Break the cog