Mathematics, 03.06.2020 02:00 jennyv191
If you need to take out an $80,000 student loan 2 years before graduating, which loan option will result in the lowest overall cost to you: a subsidized loan with 6.5%
interest for 10 years, a federal unsubsidized loan with 5.8% interest for 10 years, or a private loan with 5.0% interest and a term of 13 years? How much would you save over the other options? All payments are deferred for 6 months after graduation and the interest is capitalized.
First, find the total cost of each loan?
Answers: 3
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