Reference no: EM131441641
Assignment: Student Loan Exercise
This assignment is an exercise in getting familiar with the website Repayment Estimator, an excellent resource for student loan repayment plans
Please go to https://studentloans.gov/myDirectLoan/repaymentEstimator.action
Proceed without logging in
Use the following scenario to enter data into the estimator and answer questions about the results. Upload your completed work to Canvas.
Mark has combined Undergraduate & Graduate Loan debt of $58,000 in Direct Unsubsidized Loans and starting Income of $38,000. He had taken out these loans in 2013. These figures are estimates based on an interest rate of 6%, the average Direct Loan interest rate for undergraduate and graduate borrowers. He is married with a family size of 2. His wife does not have any student loan debt. He lives in Missouri, and his income increases 5% each year. These figures use the 2016 Poverty Guidelines issued by the U.S. Department of Health and Human Services and Income Percentage Factors issued by the U.S. Department of Education.
1. Show all different payment estimates without Public Service Loan Forgiveness (PSLF)
2. Show all different payment estimates under Public Service Loan Forgiveness (PSLF)
3. Explain how Public Service Loan Forgiveness (PSLF) may help Mark with his student loan debt.
4. Mark is currently paying under a standard repayment plan. He asked for your advice to lower his monthly payments. Given his circumstances, which repayment plan make the most financial sense for him and why?
5. Mark wants to know after he qualifies for one of the repayment plans based upon his income, will his payment remain the same throughout his new repayment plan? Explain your reasons.
|
Find yield to maturity for simple loan
: A simple loan payable in 2 years has a repayment amount equal to $132.25 and a loan value of $100. Its yield to maturity is.
|
|
Example of cultures clashing over oil
: What is your favorite story from the text that is an example of cultures clashing over oil? Why is your favorite and then explain the situation or tell the story of how it impacted the oil industry.
|
|
Evaluate competing projects for npv profiles
: Cooper Electronics uses NPV profiles to visually evaluate competing projects. Key data for the two projects under consideration are given in the following?
|
|
Evaluate the responses of rat anococcygenus muscle
: The rat anococcygeus muscle is present deep within the pelvis of the coccygeal vertebrae, in the midline of pelvic cavity. In vitro rat anococcygeus is an appropriate smooth muscle preparation that is useful both for teaching and research purposes
|
|
Explain how public service loan forgiveness may help mark
: Show all different payment estimates under Public Service Loan Forgiveness (PSLF). Explain how Public Service Loan Forgiveness (PSLF) may help Mark with his student loan debt.
|
|
Firm profit maximization problem
: Consider a numerical example for the firm's profit maximization problem. Suppose that the firm's production function is y=ln(K) +ln(N) . The firm's initial capital is K= 1.5. The current period wage rate is w= 0.1, the future period wage rate is w..
|
|
Draw a structure containing only carbon and hydrogen
: Draw a structure containing only carbon and hydrogen that is a chiral alkyne with six carbon atoms
|
|
Way of conducting and managing foreign affairs
: This issue is a perfect example of the flawed nature of the multilateral way of conducting and managing foreign affairs. While much of the current international system that was established after World War II sounded good in theory, in practice it..
|
|
Calculate the npv of the project
: Anderson International Limited is evaluating a project in Erewhon. The project will create the following cash flows: Year Cash Flow 0 -$ 594,000 1 224,000 2 167,000 3 232,000 4 211,000 All cash flows will occur in Erewhon and are expressed in doll..
|