Question

Some colleges charge for student parking. currently, your college does not charge for parking but the administration announced a possible charge of $2 per day. you are not sure when the new parking policy will start; therefore you decide to maintain a $5 bill in your wallet. you hold cash for the

Answer 1

The question addresses the rising cost of college, highlighting how tuition, fees, and other expenses have significantly increased over the years, making it difficult for minimum wage earnings to cover these costs and leading to high levels of student loan debt.

Step-by-step explanation:

The discussion about college parking fees is a reflection of the broader issue of the rising cost of college. Historically, the cost for tuition, fees, room, and board has consistently increased, making it challenging for students and families to afford higher education. For instance, between the 2000-2001 and 2019-2020 academic years, these costs more than doubled for private four-year colleges and increased by almost 2.5 times for public four-year colleges.

Moreover, earning a full-time minimum wage salary is often insufficient to cover these expenses. In fact, working 40 hours per week at minimum wage brings in $15,080 before taxes, which falls short when compared to the estimated cost of $19,548 for one year at a public university, as reported by the College Board in 2016. These financial pressures have contributed significantly to the accumulation of student loan debt, which has surpassed the $1.3 trillion mark.

Answer 2

2 days while your there because you can't have it for 3 days because you'll be short on cash, and for 1 day you would have extra cash for one more day to park.