Tristan Ramirez - COMPARE_+Which+Repayment+Option+is+Best.pdf

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COMPARE: Which Repayment Op±on Is Best?Federal student loans are typically set up to be repaid on the standard repayment plan -- equal payments split over 10years; however, mul±ple other repayment plans are available. Usethe Loan Simulatorand follow these steps to completethis ac±vity. (NOTE:You do not need to log in or create an account. If you are brought to the main page, click on“OrStart From Scratch”)Last updated: 8/31/211NGPF Ac±vity BankTypes of CreditSpanish versionTeacher Tip VideoInstruc±ons for Using Repayment Es±matorA.On theLet’s Get Started Page, click onOr Start From Scratchunder the first op±on,I Want to Find the BestStudent Loan Repayment Strategy.B.Ques±on 1 “Which of the following apply to you?” - ClickI have a job or plan to get one soon,thenCon±nueC.Ques±on 2 “What state do you live in?” - Type in the state provided in the character descrip±onsD.Ques±on 3 - “What is your yearly salary?” - Type in the salary provided in the character descrip±ons and keep 5%income growthE.Ques±on 4 - “Es±mate your loan balance.” Click the blue link at the bo²omEnter your loans manually.a.Click+Add a Loanb.SelectDirect SubsidizedorDirect Unsubsidizedas Loan Type, depending on character descrip±onc.Use thecurrent interest rate for Direct Subsidized and Direct Unsubsidized Loans for Undergraduateson this pageas the “Interest Rate”d.Enter the loan amounte.

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Term
Fall
Professor
NoProfessor
Tags
Debt, Payment, repayment, SARAH m

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