Final answer:
Rachel does not have enough resources to cover the total cost of her college education. She is $6,000 short of the $45,000 needed to cover her expenses. It is a reflection of the wider issue of rising costs of higher education and the increased reliance on financial aid and scholarships.
Step-by-step explanation:
Rachel has a total of $39,000 from scholarships and financial aid to spend on her college education. The total cost of her college education is $45,000. To determine whether Rachel has enough resources to pay for her college costs, we simply subtract the amount she has from the total cost: $45,000 - $39,000 = $6,000. Rachel is short by $6,000 and will need to find additional resources to meet the total cost of her education.
The increasing cost of a college education underscores the challenge faced by students like Rachel. Data shows that tuition, fees, room, and board have more than doubled since 1984, and student loan debt has topped $1.3 trillion. The cost has outpaced both inflation and median household income growth, making financial aid and scholarships critical for students seeking higher education.
Given the trend of rising costs and the vital role of financial assistance, it's important for students to plan carefully and seek as much financial aid and scholarships as they can to help cover these costs and to possibly avoid high student loan debt.