QuestionAugust 27, 2025

What percentage of your gross salary does the Consumer Financia Protection Bureau suggest your student loan payment be in order to be affordable and limit your risk of delinquency and default? No more than 14% No more than 20% No more than 8% None of the above

What percentage of your gross salary does the Consumer Financia Protection Bureau suggest your student loan payment be in order to be affordable and limit your risk of delinquency and default? No more than 14% No more than 20% No more than 8% None of the above
What percentage of your gross salary does the Consumer Financia Protection Bureau
suggest your student loan payment be in order to be affordable and limit your risk of
delinquency and default?
No more than 14% 
No more than 20% 
No more than 8% 
None of the above

Solution
4.0(342 votes)

Answer

No more than 8\% Explanation 1. Identify the recommended percentage The Consumer Financial Protection Bureau (CFPB) suggests that your student loan payment should be no more than a certain percentage of your gross salary to be considered affordable and limit the risk of delinquency and default. This percentage is commonly known in financial guidelines. 2. Verify the correct percentage According to the CFPB, the recommended percentage for student loan payments is typically no more than 8\% of your gross income. This guideline helps ensure that borrowers can manage their debt without undue financial strain.

Explanation

1. Identify the recommended percentage<br /> The Consumer Financial Protection Bureau (CFPB) suggests that your student loan payment should be no more than a certain percentage of your gross salary to be considered affordable and limit the risk of delinquency and default. This percentage is commonly known in financial guidelines.<br /><br />2. Verify the correct percentage<br /> According to the CFPB, the recommended percentage for student loan payments is typically no more than $8\%$ of your gross income. This guideline helps ensure that borrowers can manage their debt without undue financial strain.
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