I didn’t know student loans were issued by loan sharks now. That’s the only way $34,000 could grow to $500,000.
There must be more to this story.
Here are the historic interest rates on student loans:
https://www.savingforcollege.com/article/historical-federal-student-interest-rates-and-fees
They were in the 7 to 8% range in the 1990s....
The numbers could be legit.