Business Middle School

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?

Answers

Answer 1

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.

Answer 2

YASHARI should consider a balanced approach by allocating a portion of her extra money to both student loan repayment and building the emergency fund simultaneously, ensuring financial security and debt management.

The choice should be made by YASHARI based on her risk tolerance and financial priorities. Student loan debt should be paid off first to lower total interest paid and achieve debt freedom sooner. It might, however, delay starting an emergency fund. On the other hand while simultaneously saving for an emergency fund offers financial security, it also lengthens the time it will take to repay the loan.

A balanced strategy involves dividing the extra funds between the two objectives. Setting up a small emergency fund at first can offer some protection while making additional loan payments. YASHARI can change how much of her income she devotes to loan repayment and emergency savings as her financial situation changes. A personalized plan that is in line with her long-term financial goals is created with the help of a financial advisor.

learn more about emergency fund here

brainly.com/question/33845361

#SPJ3

Related Questions

Other Questions
helppppppppppppppppppppppppppp write one paragraph with a minimum of five sentences speech about high school is the best time of my life Which WPA American artist worked in Harlem and called his style Dynamic Cubism which reinterpreted African art in his own way?a. Jacob Lawrenceb. Henry Moorec. Barbara Hepworthd. Archibald Motley Which of the following is not an example of skill-related fitness? a. reaction time b. balance c. flexibility d. coordination please select the best answer from the choices provided. a b c d 1. What is the of the combined rectangles below? Please help with algebra Stephan cuts a 50-yard ribbon. One piece is 7 yards longer than the other. What is the length of each piece? Let g: R+R+ be defined by g(x) = x2 +1. Determine the domain, co-domain and range of g. Find the exact area of the shaded region. The sum of two numbers are 21the second number is six times the first numberwhat are the two numbers on a linear graph, the rate of change is called the ____ of a line La brother give us some love for that too love love that A toy is shaped as a triangular prism. The toy has abase of 108 square inches. What is the height of the toy ifthe volume is 729 cubic inches? What did America feel threatened by in the 1950's and 1960's? Consumption of which prey makes the elf owl a tertiary consumer? select all that apply. The most heavily populated region of Canada is:the Pacific regionthe Interior Plainsthe Appalachian regionthe St. Lawrence Lowlands regionthe Canadian Shield Keiko sold 3 less than three-fourths of his sisters sales. Which expression represents what Keiko sold? To rent a car, company A charges $55 per day and 33 cents per mile. Company B charges no daily fee, but 55 cents per mile. How many miles must you drive for Company B to cost the same as company A?please show your workand give the answer Give me an example of a television commercial you like. What type of propaganda technique do you feel it is using?