Planning for College Costs

Front

What is the total cost of attending a university for one year if it is $40,000 and a student has a scholarship covering 50% of the cost and a grant of $5,000?

Back

The student needs to save $10,000.

Front

If the total cost of attending a local community college for one year is $10,000, and a student receives a grant of $2,000 and a scholarship covering 25% of the total cost, how much more does the student need to save for the first year?

Back

The student needs to save $5,000.

Front

Calculate the amount a student needs to save for the first year at a private college costing $50,000, with a scholarship covering 40% of the cost and a grant of $10,000.

Back

The student needs to save $20,000.

Front

If a student plans to attend a four-year college with an annual cost of $25,000 and the family can contribute $5,000 per year, what is the total amount the student needs to save for the four years?

Back

The student needs to save $60,000.

Front

Estimate the total savings needed for a two-year college education costing $30,000 if the family can contribute $5,000 per year.

Back

The student should plan to save $20,000.

Front

Define 'scholarship' in the context of college funding.

Back

A scholarship is a financial award given to a student to help pay for their education, often based on academic or other achievements.

Front

What is a 'grant' in terms of educational funding?

Back

A grant is a sum of money given by an organization, often the government, that does not need to be repaid, used to help students pay for their education.

Front

Explain the difference between a scholarship and a grant.

Back

A scholarship is typically awarded based on merit (academic or athletic), while a grant is usually based on financial need.

Front

What is the formula to calculate the amount a student needs to save for college?

Back

Total Cost - (Scholarship + Grant + Family Contribution) = Amount to Save.

Front

If a college's annual cost is $30,000 and a student receives a $10,000 scholarship, how much does the student need to save if their family contributes $5,000?

Back

The student needs to save $15,000.