QuestionAugust 3, 2025

How can you reduce your total loan cost? Make interest payments while in school Make interest and principal payments while in . school Make interest and principal payments during the grace period Any of the above

How can you reduce your total loan cost? Make interest payments while in school Make interest and principal payments while in . school Make interest and principal payments during the grace period Any of the above
How can you reduce your total loan cost? Make interest payments while in school Make interest and principal payments while in . school Make interest and principal payments during the grace period Any of the above

Solution
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Answer

Any of the above Explanation 1. Analyze Payment Options Making payments on interest and principal reduces the total loan cost by decreasing the amount of interest that accrues over time. 2. Evaluate Each Option - Making interest payments while in school reduces accrued interest. - Making both interest and principal payments while in school reduces both accrued interest and principal balance. - Making payments during the grace period also reduces accrued interest and principal. 3. Determine Best Strategy Any payment made before regular repayment begins will reduce the total loan cost, with more payments leading to greater reductions.

Explanation

1. Analyze Payment Options<br /> Making payments on interest and principal reduces the total loan cost by decreasing the amount of interest that accrues over time.<br /><br />2. Evaluate Each Option<br /> - Making interest payments while in school reduces accrued interest.<br /> - Making both interest and principal payments while in school reduces both accrued interest and principal balance.<br /> - Making payments during the grace period also reduces accrued interest and principal.<br /><br />3. Determine Best Strategy<br /> Any payment made before regular repayment begins will reduce the total loan cost, with more payments leading to greater reductions.
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