Question

Marcel is nearing graduation. He just met with his counselor and she showed him this information.

Marcel’s College Costs & Payment Options per Year
Costs
Methods of Payment
Tuition & Fees
Grants & Scholarships
$12,500
$6,500
Room & Board
Work-Study
$8,200
$9,800

If he pays the balance with a student loan, how much will he need to borrow for his first year?
$4,400
$6,000
$10,900
$14,200

Answer 1

The answer is A

Explanation:

Answer 2

The correct answer option is A. $4,400.

Explanation:

Cost of the tuition and fees for 1 year = $12,500

Grants and scholarships for 1 year = $6500

Cost of room and board for 1 year = $8200

Cost for work study for 1 year = $9800

So basically, Marcel pays = (tuition and fees + cost of room and board)

= $12,500 + $8,200 = $20,700

He can pay through the (grants and scholarships + cost for work-study) = $6,500 + $9,800 = $16,300

Therefore, Marcel needs to borrow = $20,700 - $16,300 = $4,400