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Sagot :
To be a responsible borrower Eric should pay his monthly payments on time. If he is unable to make this payment then he would have to make the payment late.
What is a responsible borrower?
Being a responsible borrower is highly aligned with budgeting. Your student loan payments should be no more than 10% of your future net monthly income.
It is important to not borrow more than you need for your school-related expenses and to keep track of how much you are borrowing cumulatively.
How can I borrow money responsibly?
To borrow responsibly means the following:
- Borrow only what you can repay. ...
- Pay debts on time.
- Tell your creditor if you cannot pay and make a new arrangement with your creditor.
- Report lost or stolen credit cards immediately.
Learn more about borrowers here:
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