A public college had tuition and fees of $20,000,000. Scholarships, for which no services were required, amounted to $2,000,000. Graduate assistantships, for which services were required, amounted to $1,000,000. The amount to be reported by the public college as net tuition and fees would be:

Question

Quizplus · Accepted Answer

Net tuition and fees only include revenue from tuition and fees that is not offset by any scholarships or other forms of financial aid. Therefore, we need to subtract the scholarships ($2,000,000) from the tuition and fees ($20,000,000) to get $18,000,000. The graduate assistantships, for which services are required, do not offset the tuition and fees and are not included in the calculation of net tuition and fees.

A Public College Had Tuition and Fees of $20,000,000