To pay down the principal on your student loan right away, you should:A.begin payments more than six months after leaving college.B.make payments in monthly installments.C.pay more than the minimum payment each month.D.pay less now and more later.SUBMITarrow_backPREVIOUS

What is a good practice before taking out a student loan?A.Calculate the simple interest on the principal of the loan.B.Calculate the monthly payment to make sure you will be able to afford it.C.Calculate the total amount of compounded interest to see if you are getting a good deal.D.Calculate the annual balloon payment to make sure you will be able to afford it.SUBMITarrow_backPREVIOUS

When do private student loan repayments begin?Group of answer choicesA loan that allows you to combine debts into a single loan.A longer term loan (e.g., 3–5 years) that allows you to purchase a car.It depends — most require interest payment as soon as the loan is taken out and some may require principal repayments at that time too.Only upon completion your graduate degree (MA, MS, or PhD).

If I decide not to complete my undergraduate degree because I get a great job offer prior to graduation:Group of answer choicesI am still responsible for paying back my student loans.I can defer repayment of my student loans until after I return to school and complete my graduation requirements.I must repay all of the money earned from my work-study job.I am not responsible for repaying education loans because my education was not completed.

Have you considered the opportunity cost of paying off student loans?

. Now that you are almost finished with school, you also have to start paying back your student loans. You borrowed a total of N$12,500. You plan to pay back the loan over 10 years at an interest rate of 9.4% interest, compounded monthly. How much will your monthly payments be?