Larry Was Accepted at Three Different Graduate Schools, and Must

Multiple Choice

Larry was accepted at three different graduate schools, and must choose one. Elite U costs $50,000 per year and did not offer Larry any financial aid. Larry values attending Elite U at $60,000 per year. State College costs $30,000 per year, and offered Larry an annual $10,000 scholarship. Larry values attending State College at $40,000 per year. NoName U costs $20,000 per year, and offered Larry a full $20,000 annual scholarship. Larry values attending NoName at $15,000 per year. Larry maximizes his economic surplus by attending:

A) Elite U.
B) State College.
C) NoName U because he has a full scholarship there.
D) NoName U because the annual cost is only $20,000.