What is a potential downside of luca

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-Luca makes $58,000 per year, is single, and lives in Seattle, WA. He has $27,000 in unsubsidized federal loans, but he's got another $62,000 in private student loans and lives in an expensive neighborhood, so his rent is high. He's hoping to keep his Federal student loan payments to less than $200 per month so that his budget will work out. Which plan meets Luca's desire for Federal loan payments under $200? Describe how this low loan repayment plan works. What is a potential downside of Luca's taking this low loan repayment plan that works in his budget right now?

-YASHARI earns $27,000 per year, is single, and lives in Wyoming. She has $7000 in subsidized loans and another $19,000 in 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. Yashari's monthly take-home pay is $1850. What percentage of her paycheck will go toward student loans if she chooses standard repayment? Does that payment amount seem reasonable? Why or why not? Which plan has the longest repayment period? How long will Yashari be paying her student loans? Which repayment plan do you think Yashari should select? Why?

Reference no: EM132871992

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