Financial Accounting > QUESTIONS & ANSWERS > Penny attended a four year state college. She took out a student loan to pay for her tuition and roo (All)
Penny attended a four year state college. She took out a student loan to pay for her tuition and room & board for the four years she was attending the college. Her tuition fees were $6,970 per year, and the cost of her room and board was $11,320 per year. Now that she has graduated, she will have to start paying back her loan. Fortunately, Penny has a grace period of one year before she has to start paying back the loan.
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