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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.
How do you think Yashari should prioritize between her emergency fund goal and her student loan payments?

Respuesta :

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, until December 2043 (21 years from 2022).

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