Business, 26.10.2020 16:40 neriah30

To attend State University for four years and live on campus, you will need $26,150 per year or a total of 104,600(assuming that costs remain constant). Total cost of 4 years at State University $104,600
Parents college savings account $25,000
Scholarships $40,000

You will need to borrow in student loans $39,600 in order to attend State University.

Current Federal Student Loan interest rates for 10 year payout are as follows:

Federal Undergraduate Deferred Loans 4.66%
Federal Undergraduate Parent Loans 7.21%
Private Fixed In-School Payment Loans 3.59%
Private Fixed Deferred Payment Loans 5.96%
What loan will be the best choice for the lowest payout over the long term, only considering the interest rate?

Answers: 2

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To attend State University for four years and live on campus, you will need $26,150 per year or a to...

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