Marcel is nearing graduation. He just met with his counselor and she showed him this information.

Marcel's College Costs & Payment Options per Year

Costs

Methods of Payment

Tuition & Fees

Grants & Scholarships

$12,500

$6,500

Room & Board

Work-Study

$8,200

$9,800

If he pays the balance with a student loan, how much will he need to borrow for his first year?

$4,400

$6,000

$10,900

$14,200

The answer is A

The correct answer option is A. $4,400.

Step-by-step explanation:

Cost of the tuition and fees for 1 year = $12,500

Grants and scholarships for 1 year = $6500

Cost of room and board for 1 year = $8200

Cost for work study for 1 year = $9800

So basically, Marcel pays = (tuition and fees + cost of room and board)

= $12,500 + $8,200 = $20,700

He can pay through the (grants and scholarships + cost for work-study) = $6,500 + $9,800 = $16,300

Therefore, Marcel needs to borrow = $20,700 - $16,300 = $4,400