Dante accumulated $28,000 in student loan debts while earning his degree. He is single and currently earns $30,000 per year at his job but is willing to take a different job, if necessary. Evaluate each of the options given and select the one that is best for Dante based on his circumstances.

A :  Dante should choose the Public Service Loan Forgiveness (PSLF) program. He should find a job with a public service entity, such as an educational institution. Once he has made 120 payments on his student loans and he is still working for the public service entity after 10 years, the amount of the outstanding student loan debt may be forgiven.

B :  Dante should choose the income-contingent repayment (ICR) plan since the payment would be recalculated each year.

C :  Dante should choose the income-based repayment (IBR) plan due to his specific circumstances.

D :  Dante should choose the extended repayment plan because it will allow him a longer time period to repay the student loans.

Answer rating: 100% (QA)

Option CDante should choose the Public Service Loan Forgiveness PSLF ... View the full answer