Florida man reveals that he still owes $100 more than original student loan after years of paying

Core Insights - The issue of student loans in America is highlighted by the experience of a TikToker who, despite paying $7,450 on a loan originally totaling $8,645, now owes $8,750 due to an 8% interest rate, illustrating the frustration borrowers face with student loans [1] Group 1: Current State of Student Loans - Approximately 92% of student loan debt in the U.S. is federal, with the remaining 8% from private lenders [3] - As of Q3 2025, there are 42.3 million Americans with federal student loan debt, averaging about $39,376 per borrower, totaling around $1.67 trillion nationally [4] - In 2024, 20% of federal student loan borrowers were behind on payments, with 10.2% of outstanding balances being 90 or more days delinquent [4] Group 2: Borrower Experience - The average American student loan borrower has a balance more than four times that of the TikToker, indicating a broader issue within the student loan system [2] - Close to two-thirds (63.2%) of federal student loan borrowers have either growing or stagnant balances, suggesting difficulties in repayment [3] - Federal student loan interest rates for loans disbursed before July 1, 2026, range from 6.39% to 8.94%, contributing to the challenges faced by borrowers [5] Group 3: Private Loans - Private student loan rates can be higher than federal rates and may require a credit check, often necessitating a cosigner for new students without a credit history [6] - Private loans can cover up to 100% of the cost of attendance, with repayment terms typically set for five to ten years [7]