Find out what you may receive in financial aid

Federal Student Aid Estimator

The Federal Student Aid Estimator is an excellent tool for figuring out how much federal aid (grants and loans) you may get under the new FAFSA. It’s simple and quick to use and it gives you clear information about how much and what types of federal aid you’re likely to receive.

Try the Federal Student Aid Estimator 

Explanation of the Federal Student Aid Estimator

Our friends at understandingfafsa.org put together this explanation of how to use the Federal Student Aid Estimator, as well as other helpful tools for estimating your college costs.

Read the article.

Estimate your loan costs

If you find you need to take out loans, it's important to know what those loans will cost you, and if you'll be able to afford them over time.  The calculators below give you different ways to estimate what your costs and payments might be.

Calculator 1: How much will your loan really cost you?

Most student loans set a payback time of 10 years after you graduate. Choose any loan amount to see what it will cost you to pay it back in that time, using today’s interest rates.

 
How much will your loan really cost you?
Click on the loan amount below to find out.
Your loan amount
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This is how much goes to your college.
Your interest payments
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This is how much goes to the lender.
Your loan cost
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This is how much comes out of your wallet.
$5,000
$2,225
$7,225
$10,000
$4,450
$14,450
$15,000
$6,675
$21,675
$20,000
$8,900
$28,900
$27,000
$12,015
$39,015
$30,000
$14,178
$44,178
$35,000
$17,782
$52,782
$40,000
$21,386
$61,386

Interest calculations reflect the current 6.53% rate for Federal Student Loans, up to the maximum $27,000 for 4 years. Any amounts over $27,000 are calculated at a representative private lender rate of 10%. Note: Interest rates are subject to change.

Calculator 2: How much can you afford to pay each month – and what will that cost you over time?

Choose any monthly payment to see how much your loan will cost you to pay back in ten years, and how much of that money actually goes to pay for your education, using today’s interest rates.

 
How much can you afford to pay each month – and what will that cost you over time?
Click on the monthly payment below to find out.
Your monthly payment
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Choose how much you’re willing to pay each month for 10 years.
Your total loan cost
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This is how much your payments add up to over 10 years
How much goes to your college
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This is how much actually goes to your school (the rest goes to the lenders).
$50
$7,200
$4,983
$100
$14,400
$9,965
$150
$21,600
$14,948
$200
$28,800
$19,930
$250
$36,000
$24,913
$271
$39,015
$27,000
$300
$43,191
$29,426
$350
$50,391
$33,610
$400
$57,591
$37,794

Interest calculations reflect the current 6.53% rate for Federal Student Loans, up to the maximum $27,000 for 4 years. Any amounts over $27,000 are calculated at a representative private lender rate of 10%. Note: Interest rates are subject to change.

Calculator 3: How will a  Parent PLUS Loan fit into your family budget?

This calculator is for parents looking to support their child’s college education with a Parent PLUS Loan. Notice that at the current Parent PLUS interest rate of 9.08%, the amount you pay in interest for a 10 year loan is more than half the amount that goes to your child’s college.

 
How will a Parent PLUS Loan fit into your family budget?
Click on the loan amount below to find out.
Loan amount
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This is how much goes to your kid’s college.
Your monthly payment
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This is how much your loan will cost you every month – for 10 years.
Total interest
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This is how much of your payments go to the lenders.
Your total loan cost
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This is how much your loan will take out of your family savings over time.
$5,000
$64
$2,627
$7,627
$10,000
$127
$5,253
$15,253
$15,000
$191
$7,880
$22,880
$20,000
$254
$10,506
$30,506
$27,000
$318
$13,133
$40,133
$30,000
$381
$15,759
$45,759
$35,000
$445
$18,386
$53,386
$40,000
$508
$21,012
$61,012

Interest calculations reflect the current 9.08% rate for Parent PLUS loans. Note: Interest rates are subject to change.

Calculator 4: Simple Student Loan Calculator

This calculator will help you estimate what a loan of any amount will cost you over time. But remember, each year that you're in college can mean another loan – and a different interest rate, too. So do the math for one year and four years.

Try the Student Loan Calculator

Calculator 5: Detailed Student Loan Calculator

This link takes you to a calculator on FinAid.org, a site run by recognized FAFSA expert, Mark Kantrowitz. Please note: the information you provide on the FinAid site may be used for marketing purposes.

FinAid.org calculator