To determine how much Jorge needs to pay each year from his own savings and loans, we will follow these steps in detail.
1. Calculate Total College Costs:
- Tuition and Fees: \[tex]$26,000
- Room and Board: \$[/tex]12,500
- Total College Costs = Tuition and Fees + Room and Board
[tex]\[
\text{Total College Costs} = 26000 + 12500 = 38500
\][/tex]
2. Calculate Total Financial Aid:
- Grants and Scholarship: \[tex]$18,500
- Work-Study: \$[/tex]8,500
- Total Financial Aid = Grants and Scholarship + Work-Study
[tex]\[
\text{Total Financial Aid} = 18500 + 8500 = 27000
\][/tex]
3. Calculate Remaining Costs:
- Parents' Contribution: \[tex]$4,500
- Total Financial Aid: \$[/tex]27,000
- Total Remaining Costs = Total College Costs - Total Financial Aid - Parents' Contribution
[tex]\[
\text{Remaining Costs} = 38500 - 27000 - 4500 = 7000
\][/tex]
Therefore, the amount Jorge needs to pay each year from his own savings and loans is:
[tex]\[
\boxed{7000}
\][/tex]
