Kyle tells you that he wants to borrow the maximum amount of available loan money to buy his kids new shoes and go on a vacation to hawaii. describe at least two repercussions of poor financial planning and taking out more loan money for school than needed.

Taken loan must be repaid. So before taking the loan amount a person should plan properly. Kyle needs money to buy shoes for his kids as well as for the vacation. But he also needed the loan for his further studies. In that case he will face difficulties in repaying as well as in completing his studies. For this lack of good financial planning he would have problems in 1. Repaying the loan amount 2. continuing his studies further.