You have taken the following student loans:

$25,000 taken at the beginning of your freshman year. Payments begin 4.5 years later.

$25,000 taken at the beginning of your sophomore year. Payments begin 3.5 years later.

$25,000 taken at the beginning of your junior year. Payments begin 2.5 years later.

$25,000 taken at the beginning of your senior year. Payments begin 1.5 years later.

If each loan has an APR of 5%, how much interest will capitalize at the end of deferment? (Remember, payments begin at the end of deferment.).

What is the total loan balance (of all four loans) at the end of deferment?

What will the total monthly loan payment be if the loans are to be paid back over ten years of equal monthly payments? (Calculate the monthly payment based on the total loan balance).

If you have been making these payments for two years (24 payments), and then you need to put your loan on forbearance for one year. What is your loan balance at the beginning of forbearance?

What is your loan balance at the end of forbearance?

What is your new payment at the end of forbearance (when the interest capitalizes)?