Question

Joe was accepted to college and is making plans for next year’s budget. He anticipates getting a part-time job and making about $80 a week. In addition his federal grants will be about $3000 per semester. What is his income expected to be during the 36-week school year?

Answer 1

Joe income is expected to be:

$8,880.

Explanation:

Income from part-time job = $80 a week

For 36 weeks, he will earn $2,880 ($80 * 36)

Federal grants = $3,000 per semester

For semesters = $6,000 ($3,000 * 2)

Total income = income from part-time job plus the Federal grants

= $8,880 ($2,880 + $6,000)

The implication is that Kevin cannot spend above $8,880 towards his college education, unless he has another source of support during the year. Otherwise, he may resort to borrowing, via college loans.