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YASHARI earns $27,000 per year, is single, and lives in Wyoming. She has $7000 in Direct Subsidized loans and another $19,000 in Direct Unsubsidized loans. She is trying to save up an emergency fund of at least 6 months’ take-home pay, so she’s torn about how much she should devote to her student loans and how much to the emergency fund every month. 11. Which repayment plan do you think Yashari should select? Why?

Respuesta :

itsjustmei13

Answer:

Income-Contingent Repayment (approximately $37,812), 21 years

Explanation:

With a monthly payment limit of 20% of her discretionary income and no loan forgiveness eligibility, Yashari would pay $147-142 per month, $37,812 total.

chrisrainey

ANSWER: Yashari should select the Income-Contingent Repayment (ICR) plan ($37,000)

EXPLANATION: Given that Yashari has $26,000 in loans total, she should select the Income-Contingent Repayment, because she is exhausted on how much money she should devote to her student loans and to the emergency funds. With a monthly payment maximum that is 20% of her permissive income and no eligibility/qualification for loan forgiveness, Yashari would have to pay atleast $140 every month, with $37,800 entirely.

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