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
Your friend Quentin loves the paintings that are made of small, distinct dots of color that are placed on the canvas to create an image. Whichartist's work should he look for if he wants to see more of this pointillism in action?O A. Pablo PicassoOB. Pierre-Auguste RenoirOc. Paul GauguinOD. Georges Seurat Which expression is equivalent to 3+5/3-5 True or False: Romantic music is about extremes...the 'bigs' are bigger, the 'smalls' are smaller, the louds louder and the softs softer. A taxi hurries 63 miles in 2 hours5 minutes. What is its average speed inmiles per hour? If the ability to roll ones tongue is dominant (r) and the inability to roll ones tongue is recessive (r), what are the possible genotypes for someone who can roll their tongue? only rr rr and rr rr and rr only rr I really need help thank you! 10 points Calculate the volume of 2.30 moles of gas exerting a pressure of 2.80 atm at 155C. A population of 1,000 squirrels live on a farm plot that has an area of 250 square feet. What is the population density? A de jure corporation is one that is formed to accomplish a single purpose within a limited time. True False You are studying economic development in a small developing country. You do not have individual income data but you do have counts of how many people fall into various intervals such as 0-500, 501-1000, etc. You want a display that shows the shape of the income distribution. You should make aA. Scatter plotB. Pie chartC. Bar chartD. Histogram You and your friend are standing on the baseline of abasketball court. You bounce a basketball to your friend, as shown in the diagram. What is thedistance between you and your friend? Round your answer to the nearest tenth. Answers are very much needed. Across the sdlc phases which among these activities see a substantial amount of automation Lois made a dish with 3 1/3 cups of pasta. One serving of the pasta is 0.4 cups. How many servings of pasta were in the dish Lois made? The outline for a strong compare-and-contrast essay must include an evaluation of each editorials argument. a detailed summary of each editorial. responses to all counterarguments. a conclusion written in full sentences. Which of these factors may affect a person's blood alcohol concentration?-gender-race-blood type-age What happened to thousands of Jewish men as a result of Kristallnacht? They lost their status as citizens of Germany. They were arrested and sent to concentration camps. They rebuilt their businesses and reopened factories. They left the cities to live in greater safety in rural areas. please helpp i need a topic of my interest essay Please help me on this question If the distance between two objects is tripled, what happensto the gravitational force between them?A. It decreases to 1/3 its original magnitude.B. It increases to 9 times its original magnitude.C. It increases to 3 times its original magnitude.D. It decreases to 1/9 its original magnitude..