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Jolene is graduating from high school in May. She received this offer from a university. Financial Analysis for University Costs per Year Financial Aid Package per Year Tuition & Fees Scholarships & Grants $9,800 $11,000 Room & Board Work-Study $12,500 $5,000 Which statements about the offer are true? Check all that apply. The total cost per year is $22,300. She will need to repay $16,000 for each year of college. Financial aid will cover $16,000 for each year of college with no need to repay. Financial aid will cover $11,000 for each year of college with no need to repay. She could use money from savings or parental contributions to pay the remaining $6,300 each year. She could use a student loan to pay the remaining $6,300 each year.

2 Answer

  • Answer:

    The total cost per year is $22,300.

    Financial aid will cover $16,000 for each year of college with no need to repay.

    She could use money from savings or parental contributions to pay the remaining $6,300 each year.

    She could use a student loan to pay the remaining $6,300 each year.

    Explanation:

  • The answer will include the options-

    • The total cost per year is $22,300.
    • Financial aid will cover $16,000 for each year of college with no need to repay.
    • She could use money from savings or parental contributions to pay the remaining $6,300 each year.
    • She could use a student loan to pay the remaining $6,300 each year.

    How do I calculate the total cost?

    Total Cost = Total Fixed Cost + Average Variable Cost Per Unit * Unit Count

    What exactly is a student loan, and how do they work?

    A student loan is money borrowed from the government or a private lender to cover college expenses. The loan must be repaid later, along with the interest accumulating over time. The funds are typically used for tuition, room and board, books, or other fees.

    Learn more about financial analysis, here-

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