Texas Go Math Grade 6 Lesson 18.3 Answer Key Paying for College

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Texas Go Math Grade 6 Lesson 18.3 Answer Key Paying for College

Texas Go Math Grade 6 Lesson 18.3 Explore Activity Answer Key

Explore Activity 1

Exploring Methods to Pay for College

What you do in middle school affects your future so learning about ways to pay for college now is a good idea. The government and other organizations offer help. There are grants, usually for students who need money the most; work- study programs which allow students to earn money; and scholarships, awarded to students based on achievement.
Texas Go Math Grade 6 Lesson 18.3 Answer Key 1
Work with a partner to research online and complete the following table.
Texas Go Math Grade 6 Lesson 18.3 Answer Key 2

Reflect

Question 1.
Communicate Mathematical Ideas Which methods would you choose to pay for college? Explain why you would choose those methods.
Answer:
Two methods may be used to pay for coLLege, and these are grants and scholarship. They are quite similar in nature since a third part or external affiliation wilt help one to acquire such method. Both method need not also to repay back the cost of your college. However, there are still criteria or standards that is needed in order to qualify for the application of grants or scholarships. There are also some scholarship from private institutions that require the applicant to maintain a certain grade average to stay on track.

Among all methods, it is highly recommended that every individual must prepare ahead of college, that is where savings will come in place. It is still best for anyone to invest and have savings for their educational growth. In such case, you do not need to be tied up for standards and qualifications for some grants and scholarship. Finally, you only have to think of yourself and the future because when you have savings, you do not owe anybody for the cost of your college.

Explore Activity 2

Explaining Different Methods to Pay for College

Websites are a common tool for sharing information. Website designers sometimes create a storyboard to plan and organize the information they want to include in the website.

Complete the storyboard for a website to help others learn about different ways to pay for coSSege. Include a brief description and a benefit for each method listed on the storyboard.
Texas Go Math Grade 6 Lesson 18.3 Answer Key 9

Reflect

Question 2.
Critical Thinking Explain how you chose what information to include about each method of paying for college.
Answer:
Information was chosen based on the description on different ways of paying for college and the benefit for each method. These are few information needed by any individual who is seeking for help in preparation for college education.

Your Turn

Question 3.
Angela is attending the University of Texas, where the tuition is $12,000 a year. She has a scholarship that pays $6,000 and a grant for $1,000. She also has a job at the campus bookstore. If her job pays her $50 every day that she works, how many days would she need to work to pay for 50% of the remaining amount?
Answer:
Determine the amount Angela needs to pay after deducting the scholarship and grant
= $12,000 – ($6,000 + $1,000) add the amount of her grant and scholarship
= $12,000 – $7,000 subtract from the amount of the tuition fee
= $5,000 amount that Angela needs to pay
50% of $5,000 = $2,500 half of the remaining amount to be paid
$50x = $2, 500 identify how many days she needs to work
\(\frac{\$ 50 x}{\$ 50}=\frac{\$ 2,500}{\$ 50}\) divide both sides of the equation by $50
x = 50 days number of days she needs to work
She needs to work for 50 days in order to pay half of the remaining amount.

Texas Go Math Grade 6 Lesson 18.3 Guided Practice Answer Key

Question 1.
Michael is graduating from high school soon and wants to attend college. He did not earn any scholarships or save any money to help pay for college. What are some methods you would suggest for Michael to use to pay for college? Why? (Explore Activities 1 and 2)
Answer:
If he was not able to save money or have scholarship for college, he may apply for a grant or loan that will, aid him in paying for college. He can also have a work-study job that would fit his schedule. In such way, he will be able to study and take a part time job to sustain his college education.

Question 2.
Kiera is in her last year of college at the University of Houston. She has a scholarship that pays 75% of her costs. Her classes cost $14,000 for the year. How much money does she still need to pay the costs not paid by her scholarship? What are some methods she can use to pay them? (Explore Activities 1 and 2, Example 1)
Texas Go Math Grade 6 Lesson 18.3 Answer Key 4
Answer:
Determine the amount she still needs to pay after a scholarship was given.
75% of $14,000 = $10,500 amount to be paid under scholarship
$14,000 – $10,500 = $3,500 amount she still needs to pay
Kiera needs to pay $3,500 for the cost of her classes. She may pay this by applying for study grants, loans, or work study jobs.

Question 3.
Jim wants to go to college. He does not have enough money to attend a four-year university, so he plans to attend El Paso Community College until he saves enough money to transfer to a university. Jim has $2,300 saved, but El Paso Community College costs $8,000 a year. He received a $1,000 grant and wants to work to earn 50% of the remaining cost. How much money does he need to earn from his job? (Example 1)
Answer:
Determine the amount he needs to earn from his job.
= $8,000 ($2,300 + $1,000) add the amount he saved and grant
= $8,000 – $3,300 subtract from the total cost
= $4,700 remaining cost
50% of $4,700 = $2,350 amount he needs to earn from his job
He needs to earn $2,350 from his job to pay for 50% of the remaining cost for the community college.

Question 4.
Other than the cost of tuition, there are many things a college student has to pay for. What are some other expenses? (Explore Activities 1 and 2)
Answer:
As a college student there are other things that needed to spend for aside from the cost of tuition. Some expenses are school supplies, textbooks, transportation, medical expenses, health and wellness, food, laundry, and utilities if necessary. If a college student is living away from his own family, room and lodging must also be considered as part of the expenses.

Essential Question Check-In

Question 5.
What are some methods you can use to pay for college?
Answer:
Some of the methods that can be used to pay for college are: study grants, scholarships, loans, work-study jobs, looking for community college, and savings.

Texas Go Math Grade 6 Lesson 18.3 Independent Practice Answer Key

Question 6.
College tuition usually increases over time. You are interested in two colleges, A and B. College A plans to increase tuition by $500 per year for the next 6 years. College B plans to increase tuition by $850 for each of the next 6 years.
Texas Go Math Grade 6 Lesson 18.3 Answer Key 5
a. Complete the table to determine which college will cost more in 6 years.
Answer:
Complete the table
Texas Go Math Grade 6 Lesson 18.3 Answer Key 7
College B costs more in 6 years.

b. Suppose you attend College A or College B in 2018. College A offers a grant that will pay $5,000 and a scholarship that pays 25% of your tuition, while College B only offers a scholarship that covers 60% of your tuition. How much do you still need to pay for each college? Show your work.
Answer:
Determine the amount needed to pay for each college after the scholarship
College A
25% of $15,000 = $3,750 amount of the scholarship
$3,750 + $5,000 = $8,750 total amount of the grant and scholarship
$15,000 $8,750 = $6,250 amount that still needs to be paid

College B
60% of $15,100 = $9,060 amount of scholarship
$15,100 $9,060 = $6,040 amount that still needs to be paid
An amount of $6250 will be needed to pay for College A while an amount of $6,040 will be needed for College B.

c. Suppose that College B reduces its scholarship to 50% of your tuition but adds a grant worth $2,000. Which college costs more in 2018? Explain.
Answer:
Determine which college will cost more after a change in schoLarship percentage of College B.
ColLege B
50% of $15,100 = $7,550 amount of scholarship
$7,550 + $2,000 = $9,550 add the grant and the scholarship
$15,100 $9,550 = $5,550 amount that still needs to be paid
After the decrease in scholarship and giving additional grant, the college that costs more in 2018 is College A.

Question 7.
Make a Prediction Suppose your parents started saving for your college education when you were 5 years old. Assume they saved $300 the first year, $325 the second year, $350 the third year, and so on, increasing each year’s contribution by $25. If you are 17 in the last year of contributions, how much will have been saved in all?
Answer:
Determine the amount of savings at the age of 17.
Texas Go Math Grade 6 Lesson 18.3 Answer Key 8
The total amount of savings is $5,850.

Question 8.
Communicate Mathematical Ideas Explain the difference between a scholarship and a loan.
Answer:
Scholarship is a financial aid to a study program that does not need to be paid back after acquiring while a loan is a financial aid which requires to return borrowed money with interest for a certain period of time. Qualifications in availing of a scholarship is different from a loan. Grades may be used as a criteria to be granted a scholarship while credit history and credit score is needed in order for a loan to be approved.

Question 9.
Lisa has a scholarship that pays for 75% of her tuition for all four years she attends college. What is the total amount the scholarship is worth if Lisa’s classes cost $12,000 per year?
Answer:
Determine the total amount of her scholarship for four years.
75% of $12,000 = $9,000 amount of scholarship per year
$9,000 × 4 = $36,000 total amount of her scholarship
The total amount of her scholarship in four years is $36,000.

Question 10.
Darren wants to attend a college that costs $15,000 per year. His parents have enough money saved to pay for 45% of his costs for two years. How much money have Darren’s parents saved for his college costs? Explain your answer.
Answer:
Determine the amount of savings by his parents for the cost of college.
$15,000 × 2 = $30,000 cost of college for two years
45% of $30,000 = $13,500 savings by his parents
His parents was able to save $13,500 of the college costs for two years.

Question 11.
Multistep Susan is trying to decide whether to attend Texas A&M University or Midland College. She made a table to compare the costs of the two colleges, including tuition and fees. She also considered financial aid offers by each college.
Texas Go Math Grade 6 Lesson 18.3 Answer Key 6
a. What is the total cost per year for Texas A&M? ___________
Answer:
Midland College costs $4,500 per year while Texas A & M costs twice that of Midland College. Therefore $4,500 × 2 = $9,000. is the cost of Texas A & M.

b. How much would Susan have to pay to go to Texas A&M?
Answer:
Determine the amount that Susan needs to pay if she goes to Texas A & M
30% of $9,000 = $2,700 amount of the scholarship
$2,700 + $2,000 = $4,700 total amount of scholarship and grant
$9,000 – $4,700 = $4,300 amount that Susan has to pay
Susan has to pay $4,300 in Texas A & M after receiving the scholarship and grant.

H.O.T. Focus on Higher Order Thinking

Question 12.
Critique Reasoning William will be attending college next year. He thinks that even though the tuition is higher at College A it will cost less overall because it is in-state and College B is not. Do you agree with William? Explain.
Answer:

Question 13.
Multistep There are 4 years left until Desmond attends college. He wants to go full time for 4 years to a college that costs $25,000 a year. His parents’ goal is to save enough to pay 75% of the cost. There is currently $60,000 in an account they set up. Assume that college costs do not increase each year.
a. How much will Desmond’s college of choice cost for 4 years?
Answer:
Determine the cost of his college of choice.
$25,000 × 4 = $100,000 college costs for four years.

b. About how much more money do Desmond’s parents need to save to meet their goal?
Answer:
Determine the amount his parents need to save.
75% of $100,000 = $75,000 goal of his parents to save
$75,000 $60,000 = $15,000 amount that still needs to be saved

c. How many months are left for them to save money in his college savings account?
Answer:
Determine the number of months left for them to save money.
4 × 12 = 48 number of months before he attends college

d. How much money do Desmond’s parents need to save each month to meet their goal?
Answer:
Determine the amount his parents need to save each month.
$15,000 ÷ 48 months = $312.50 amount of savings each month

e. How much money will Desmond still need for college tuition?
Answer:
Determine the amount that Desmond still needs to pay for college.
$100,000 – $75,000 = $25, 000 amount that Desmond needs to pay for his tuition

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