Question

After four years of higher education, Julia just graduated with a Bachelor's degree in Engineering from USC where the annual cost of tuition was $22,000. She paid for college by earning $11,000 annually through the work study program and receiving an annual scholarship. She covered the remainder of the costs by taking out $12,000 in student loans. If she didn't fund her education with savings or grant money, what was the amount of Julia's annual academic scholarship?

Answer 1

$32,000

Explanation:

overall cost for 4 years was $88,000. She made $44,000 after 4 years. After all 4 years she had to take out $12,000 to pay. 88,000-44,000=44,000 44,000-12,000=32,000

Answer 2

$8,000

Explanation:

Tuition per year: $22,000

Work Study Earnings per year: $11,000

Student Loans per year: $12,000 / 4 = $3,000

Annual Academic Scholarship per year: $x

Per Year Calculations

$22,000 = $11,000 + $3,000 + $x

$x = $22,000 - $11,000 - $3,000

$x = $8,000