Answer :
The disadvantage of using repayment plans are:
- You pay much more in interest payments than you would otherwise.
- You spend more of your life making loan payments.
- You may end up with a higher interest rate than that of your original loan.
The advantage of using repayment
plan are :
- You can pay a little more each month and pay off the loan sooner.
- It is the automatic repayment option for most loans