1. Jonelle selects a student loan repayment plan with a 20-year term. One downside is...

a. She won't receive any grace period with this plan.

b. Her monthly payments will start out quite high and won't get lower until approximately year 10.

c. She won't be able to open additional lines of credit until that debt is completely repaid.

d. She will pay more in interest than if she had used the Standard repayment plan.

The loan is referred to as the amount that is borrowed by any of the lenders of any of the financial institutions in the banking sector. There is some sort of document verification for the person that avails the loan amount for the prevailing period of time.

The correct answer is a. She won't receive any grace period with this plan.

If you took out federal student loans after July 1, 2014, you may be eligible for income-based repayment (IBR) with installments of 10% of discretionary income and forgiveness of the remaining student loan total after 20 years.

You must show that the normal 10-year plan is out of your price range. You'll pay 15 percent of your discretionary income over 25 years if you took out loans before July 1, 2014.

For parent PLUS loan borrowers, the income-contingent repayment (ICR) plan is the only income-based repayment option. Before you may qualify, you must consolidate your debts. Payments on a 12-year loan term are set at 20% of spending power or the amount of your monthly fixed obligation.

To know more about the repayment of the income-based student loan, refer to the link below:

https://brainly.com/question/19599321