Planning for the Cost of College Answers

The table shows the cost of various expenses Montrel expects to pay for one year at a public two-year college.CategoryAmounttuition$3,220room/board$7,650transportation$1,895books/lab fees$875How much should Montrel expect to pay?$

Darian has decided to attend an out-of-state public four-year university. His expected expenses are shown in the table.CategoryAnnual Expected Expense ($)tuition$18,900room/board$7,650books/fees$1,475other expenses$2,350Darian expects to get $7,500 in grants each year. What is the minimum amount he should expect to contribute for four years at the university?

Dustin estimates it will cost $7,721 annually to attend a public four-year college. He will receive $1,930 in grants. How much is Dustin’s estimated annual contribution to his college education?$

The annual tuition at a public two-year college last year was $3,200. For the new school year, Elizabeth’s first year in college, the tuition is expected to increase 5%. She saved the same amount monthly to prepare for the cost of her tuition. What is the minimum amount Elizabeth should have saved monthly during the previous year?

Michael will attend college in 5 years. He anticipates he will need $19,000 to pay for the first year. He currently has $6,400 in a savings account. Without including any interest earned, what is a reasonable estimate of the amount Michael needs to deposit into his savings account each month over the next 5 years to be able to pay for his first year of college?

Catherine is using the table to predict the cost of one year of education at a four-year private college. CategoryPredicted Costtuition$32,250room and board$10,590transportation$2,460books and fees$1,980other$750She predicts she will receive $14,000 in grants annually. Catherine does not own a car and plans to live near campus where she will rely on the free bus system for transportation. What is the minimum amount Catherine should expect to contribute to her education annually?

Arthur is 10 years old. Tuition for one year at a public two-year college is $3,125. In 8 years, tuition is expected to increase 32%. Arthur’s family plans to save for his college costs for 5 years. If the family saves $75 per month, will there be enough money to pay for the expected cost of one year at the college when he is 18?

Carly will be going to college in 3 years. She anticipates that she will need $12,000 to pay for the first year. She currently has $2,900 in a savings account. Without including any interest earned, what is a reasonable estimate of the amount Carly needs to deposit into the savings account per month over the next 3 years to be able to pay for her first year of college?

Laura estimated the total cost of attending a private four-year university using the information in the table. CategoryEstimated Cost – 1 yeartuition$29,500room and board$9,600books$2,125lab and facilities fees$850Laura received a grant that will pay for 30% of her annual estimated tuition and a scholarship that will pay for her books. What is the minimum Laura should expect to contribute to her college education for all four years?

The table shows the predicted cost of the first year of college at a private school six years from now. CategoryPredicted Costtuition$36,620room and board$12,900books and fees$2,450transportation$3,100other$1,330.Emily is using the table to determine the minimum amount of money she should save monthly if she is to have enough money to pay for her first year of college. She anticipates receiving $6,000 in grants and has 6 years to save in a college savings account. Without including any interest earned, what is a reasonable estimate of the amount Emily and her family should save each month for the next 6 years to pay for her first year of college?