Number 5

CASE 2. (40 poiets, eacte quention 5 pointv) You work mat your college's finatial aid offiec, and Mary Lou Hennines, a junior, hav come to you for adivie She just found out dhat ber mober has hees "Lownised" from her job. To casure that abe las sufficient fundiag for her senior year, ibe acede to apply for a lous to help with copenses. She has a part-time job wibl take-home pwy of siso per month. She expectr her annual Het careings to be approkimately 535,000 after gradmatice, and she plans to continue living at honte for another year or two. Hier parcets have bald ber she dan me up 10$10,000 of their hoere egaity lioe of crediti however, she is noe sure the wante to do that. She doer not have any debe cxeept for 3 more yean of monthly auto puymeats of 5194 . She is wormitd aboet tryiag to pay for ais alditional loan while still in school, althoeph ber aven is convisced she will find another. job soob and be able to make the poyments Questiens Mary lou 2. What types of stedent louns are avaibble lo Mary Les, and what lendiog limits apoly? Wen woeld repaymeed of the loans begin? 3. Asrame her thudeat loan will have as interest rate ef 6 perecte and lier parents" home equity line bas a rale of 9.75 perecht. If bed lowe bave a I0-ycar atuturity, what will her monthly pay went be for cack on a Soen ef 56600 , ifmoring asy posible deferancuts? 4. Fxplain the tex oomesuences of the fwo operes, asemine Mary Lou is is the 25 peroent maghinal foleral tar brecket and her poests are in the 28 percent tar bracket. No atase ieconie tax is ansesod 5. Wising her ourrent income, calcolate her debe lintir matas for the mest exponvive achool ratio for the loant atter graduatioe. Mary lou sonsider when coelemplating oonejeliticie? 7. If Mary Loa wuffen financially und has to file for humlropicy, will ber thident kan debe. be forsives? Why? Are there other optioni for financieg her efteabion? CASE 2. (40 poiets, eacte quention 5 pointv) You work mat your college's finatial aid offiec, and Mary Lou Hennines, a junior, hav come to you for adivie She just found out dhat ber mober has hees "Lownised" from her job. To casure that abe las sufficient fundiag for her senior year, ibe acede to apply for a lous to help with copenses. She has a part-time job wibl take-home pwy of siso per month. She expectr her annual Het careings to be approkimately 535,000 after gradmatice, and she plans to continue living at honte for another year or two. Hier parcets have bald ber she dan me up 10$10,000 of their hoere egaity lioe of crediti however, she is noe sure the wante to do that. She doer not have any debe cxeept for 3 more yean of monthly auto puymeats of 5194 . She is wormitd aboet tryiag to pay for ais alditional loan while still in school, althoeph ber aven is convisced she will find another. job soob and be able to make the poyments Questiens Mary lou 2. What types of stedent louns are avaibble lo Mary Les, and what lendiog limits apoly? Wen woeld repaymeed of the loans begin? 3. Asrame her thudeat loan will have as interest rate ef 6 perecte and lier parents" home equity line bas a rale of 9.75 perecht. If bed lowe bave a I0-ycar atuturity, what will her monthly pay went be for cack on a Soen ef 56600 , ifmoring asy posible deferancuts? 4. Fxplain the tex oomesuences of the fwo operes, asemine Mary Lou is is the 25 peroent maghinal foleral tar brecket and her poests are in the 28 percent tar bracket. No atase ieconie tax is ansesod 5. Wising her ourrent income, calcolate her debe lintir matas for the mest exponvive achool ratio for the loant atter graduatioe. Mary lou sonsider when coelemplating oonejeliticie? 7. If Mary Loa wuffen financially und has to file for humlropicy, will ber thident kan debe. be forsives? Why? Are there other optioni for financieg her efteabion