7
QuizMultiple Choice

Understanding College Savings

Question 7 • SNHS NV-Civics and Economics

Annika is attending college next year. She just got information on the college costs and the financial aid package the college is offering. Annika knows her parents can contribute $7,500 each year.Annika’s College Costs & Financial Aid Package per YearCostsFinancial Aid PackageTuition & FeesGrants & Scholarship$21,500$10,500Room & BoardWork-Study$13,500$9,000How much will Annika need to pay each year from her own savings and from loans?

Answer
A
$8,000
B
$11,000
C
$15,500
D
$17,000

Explanation

Annika’s total yearly costs are $21,500 + $13,500 = $35,000, and her grants, scholarship, and work-study total $10,500 + $9,000 = $19,500. That leaves $15,500; after her parents contribute $7,500, Annika needs $8,000 from her own savings and loans, so the answer is A) $8,000.

AI-written and checked against the verified answer.

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