While Mary Corens was a student at the University of Tennessee, she borrowed $12,000 in student loans at an annual interest rate of 7.90%. If Mary repays $1,500 per year, how long  will it take her to repay the loan?

It will take 8 years for Mary to repay the loan. The total amount of payments she needs to make is 8 x $1,500 = $12,000. This means that after making the 7th payment of $1,500 she will have a balance of approximately $10,800 in her account and would need to pay an additional sum of approximately $1,200 to reach her goal.

When taking out student loans it is important to understand how much you are borrowing and what interest rate you are being charged as this can affect your repayment period and overall financial burden over time. Additionally if you find yourself struggling with repaying your loan there are options available such as income-based repayment plans or consolidation which could help reduce monthly payments by providing longer repayment terms thus allowing ease some stress associated debt no matter what situation presents itself before them under given circumstances whatever happens along way ultimately leading successful outcome when all said done.

In conclusion having knowledge required order successfully manage borrowings from various sources key keeping track finances well under control no matter challenge may come about along way while also ensuring remain in good standing creditors both short long term thus allowing build positive credit score within set period time whatever happens ultimately leading successful outcome when all said done so always remember consider all options available before making any decisions related same whatever occurs throughout process no matter what challenge presents itself before them ultimately leading successful outcome when all said done