Not surprisingly, Tarek still has several thousand dollars in student loans outstanding. When he graduated from college, he had federal loans of $41,600, with an average APR of 5.40%. Six months after graduation, he started making payments using the standard repayment plan. How much is his monthly payment? If all his student loans were subsidized and if he wants to minimize his monthly payment to increase his financial flexibility, what repayment schedule would be best for Tarek? What will be his new maximum monthly payment if his federally calculated discretionary income is $4,160 per month? As per Standard repayment plan Tarek's monthly payment is $ The best repayment schedule for Tarek would be Tarek's maximum monthly payment will be $ a As housing prices in his area have recently dropped, Tarek is insistent that he should buy a home. Given his projected monthly income of $5,700 and other monthly debt repayment expenses of $210 for a car and estimated student loan payments of $530 per month (use this number rather than the number calculated for part (c)), what's the maximum monthly principal and interest payment he can afford if insurance is $85 per month and property taxes on the home are an additional $185 per month (use HUD guidelines)? What size loan can Tarek afford based on your answer, assuming that he can obtain a 5.5% loan for 28 years? As per HUD guidelines the maximum monthly principal and interest payment Tarek can afford is $ Tarek can afford the loan size of $ Not surprisingly, Tarek still has several thousand dollars in student loans outstanding. When he graduated from college, he had federal loans of $41,600, with an average APR of 5.40%. Six months after graduation, he started making payments using the standard repayment plan. How much is his monthly payment? If all his student loans were subsidized and if he wants to minimize his monthly payment to increase his financial flexibility, what repayment schedule would be best for Tarek? What will be his new maximum monthly payment if his federally calculated discretionary income is $4,160 per month? As per Standard repayment plan Tarek's monthly payment is $ The best repayment schedule for Tarek would be Tarek's maximum monthly payment will be $ a As housing prices in his area have recently dropped, Tarek is insistent that he should buy a home. Given his projected monthly income of $5,700 and other monthly debt repayment expenses of $210 for a car and estimated student loan payments of $530 per month (use this number rather than the number calculated for part (c)), what's the maximum monthly principal and interest payment he can afford if insurance is $85 per month and property taxes on the home are an additional $185 per month (use HUD guidelines)? What size loan can Tarek afford based on your answer, assuming that he can obtain a 5.5% loan for 28 years? As per HUD guidelines the maximum monthly principal and interest payment Tarek can afford is $ Tarek can afford the loan size of $
