Student loan project Math 201 Jeannie McCALL

Introduction Purpose Regulate loan amount after graduation Regulate probable salary after graduation Regulate how loans will be paid after graduation Time frame

Hypothesis I will be able to budget my loans into my everyday lifestyle.   I believe that having a loan set at a low payment amount of $208 will fit into my budget, if I balance my everyday lifestyle in a correct manner.

Expected Salary Job Title Human Resource Assistant State California Estimated starting salary 1 $59,000 Estimated starting salary 2 $55,863 Estimated starting annual salary $57,431.5 Estimated starting monthly salary $4785.96 Estimated net monthly salary (after tax) $3589.47

Budget

Student Loans summery : Appraised total: $23,948 Interest rate: 4.45% Appraised monthly payment: $247

Monthly payment required: $247. 62 https://studentloans Monthly payment required: $247.62 https://studentloans.gov/myDirectLoan/. This monthly imbursement for my student loan was higher than what I identified in my hypothesis. Monthly Payment

Future Value Total loan: $23,948 Total interest paid: $5765.98

Reducing Interest

Ideal monthly payment: $200-$225 Comparable to the hypothesis Would have extra money in case of emergency Would have extra money for social/entertainment Conclusion