Which of the following is a consequence of extending the payback period of a student loan from 10 to 30 years?
A) higher monthly payments
B) more interest paid over the life of the loan
C) faster payoff of principal
D) lower monthly payments initially, but higher monthly payments in the future

Question

Quizplus · Accepted Answer

Extending the payback period of a student loan from 10 to 30 years would result in paying more interest over the life of the loan, as interest continues to accrue for a longer period of time.

Which of the Following Is a Consequence of Extending the Payback