Question: Houghton College is thinking to start a new graduate degree program in Mathematics. The initial startup cost for computing equipment, course development, facilities & staff recruitment is 350,000 dollar. The college plans to charge tuition for the program at $21,000 per year/student. Administration rates are expected to be $12,000 per student. In addition the College expects to pay out an average of dollar 3,000 per student in scholarship awards.
Find how many students does the college need to enroll to break even?