Alphonse is attending college next year. He received this offer from a university. His parents told him they would pay for his room and board if he lives at home instead of in the dorms. He would only need to pay $2,000 for his car and insurance if he lives at home. Financial Analysis for UniversityCosts per YearFinancial Aid Package per YearTuition & FeesScholarships & Grants$10,500$4,000Room & BoardWork-Study$11,500$2,000Which statements about the offer are true? Check all that apply.

The dorm costs $10,500 in tuition and fees plus $11,500 for room and board, for a total of $22,000 per year. At home, Alphonse’s costs are $10,500 for tuition and fees plus $2,000 for his car and insurance; after subtracting $6,000 in scholarships, grants, and work-study, $6,500 remains uncovered. His dorm costs after the same aid are $16,000, so living at home saves $16,000 − $6,500 = $9,500 per year. Scholarships and grants do not need to be repaid, and work-study is earned through work.

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