Question

Annalise received financial aid offers from two universities.

Financial Analysis for Option A
Costs per Year
Financial Aid Package per Year
Tuition & Fees
Scholarships & Grants
$10,000
$7,000
Room & Board
Work-Study
$11,500
$4,000

Financial Analysis for Option B
Costs per Year
Financial Aid Package per Year
Tuition & Fees
Scholarships & Grants
$28,000
$18,000
Room & Board
Work-Study
$9,000
$4,000

Which statement about the costs per year is true?
Option A will save her $4,500.
Option B will save her $7,000.
Option B will save her $11,000.
Option A will save her $15,500.

Answer 1

Option A will save her $4,500.

Step-by-step explanation:

Answer 2

Option A will save her $15,500.

Step-by-step explanation:

Financial aid is the assistance given to students to cater to a college education. It excludes Scholarships and grants as these are not cost items by other forms of assistance.

Total for University Option A excluding scholarships and grants

Tuition & Fees $10,000

Room and Board $11,500

Work-Study $ 4,000

Total for A $25,500

For university option B

Tuition & Fees $28,000

Room & Board $ 9,000

Work-study $ 4,000

Total for B $41,000

Option B is more costly than A by :$41,000 - $25,500=$15,500.

Therefore, Option A saves $15,500