Beruflich Dokumente
Kultur Dokumente
Vocabulary
college, grant, monetary award, scholarship
Key Concept
TEKS 6(1)(A), 6(1)(D), 6(14)(G)
There are different ways to pay for college.
Your savings is money you put away to use at a later time. One way you can save is to open a
savings account at a bank. Depending on the type of account you open, you may earn interest on
your money.
Grants and scholarships award money to a student so the student can pursue an education. Grants
and scholarships provide money that the student does not need to repay.
Reasons Grants or Scholarships are Given
Academic performance
Financial need
Athletic performance
Decide if the statement is true or false. If the statement is false, explain why.
a. The scholarship covers 80% of the cost of one year.
b. You also receive a grant for $10,000. Now more than 50% of the cost of one year is covered.
c. Suppose you can match the $11,000 scholarship with your own savings. Then you will have
exactly 40% of the cost of one year covered.
Solution
a. False; $11,000/$55,000 = 0.2 = 20%. So 20% of the cost of one year is covered by the scholarship.
b. False; the grant and the scholarship total $21,000. That is less than half of $55,000.
c. False; the grant, scholarship, and your savings total $32,000.
$32,000/$55,000 0.5818 = 58.18%
Solution
Find how much of Rockside University's costs are left to cover.
$50,000 $11,000 $4,500 = $34,500
You will need to use $34,500 from your savings to attend Rockside University.
Find how much of Wrighey University's costs are left to cover.
$48,000 $4,000 $3,000 = $41,000
You will need to use $41,000 from your savings to attend Wrighey University.
You will need to use more money from your savings to attend Wrighey University.