Question $1$:

Luke is a first$-$year student who has just received a Stafford student loan and started college, and he plans to obtain the maximum loan from Stafford at the beginning of each year. Although Luke does not have to make any payments while in school, the unsubsidized $8\%$ interest owed $($compounded monthly$)$ accrues and added to the loan balance.

UNSUBSIDIZED Stafford loan limits:

$\backslash$table$[[$Freshman$,$$$7,500$