5
QuizMultiple Choice

Understanding College Savings

Question 5 • SHS Lifetime Fitness - 2021

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
$8,000
C
$11,000
D
$11,000
E
$15,500
F
$15,500
G
$17,000
H
$17,000
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