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Sandra is eligible for a subsidized Stafford loan to help her pay for college. Subsidized Stafford loans are loans available to low - and medium

Sandra is eligible for a subsidized Stafford loan to help her pay for college. Subsidized Stafford loans are loans available to low- and medium-income families to help pay for college. While a student is in college, the U.S. government pays the interest on the loan. So, if a student borrows $5,000, then he/she still owes only $5,000 when he/she graduates from college (or leaves early).Note that loan repayment for a Stafford loan begins six months after graduation (or after the student has left college). That is the point when interest begins to accrue (be charged). Once repayment begins, payments are typically made monthly.(Q2) Sandra is not sure whether she should take the subsidized loan, She is concerned about being able to pay it back (her other option is to work part-time and attend school part-time). Suppose her financial aid award letter says she is qualified to borrow up to $4,000 per year,How much (in total) will Sandra owe if she borrows $4,000 per year and it takes her five years to graduate from college? Note: This total is called her "loan balance"Discuss in your group and record your group's answer in the given space.

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