Do the math with these loan calculators
Summary: How much could your student loan cost you? How does one school’s financial aid package compare to that offered by another? Use the calculators on this page to plug in your numbers and find out.
Time to read: 2 minutes to read + time to input numbers
Who this is for: Juniors, Seniors and Parents
The calculators shown here are designed to give you a good estimate of what a student loan might cost you over time and a way to compare the financial aid packages offered by each college that sent you an acceptance letter. Put in your own numbers and try different scenarios. You’ll have a personalized estimate that just might make your financial picture a lot clearer.
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.
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.
Financial Aid Comparison Tool (US Govt.)
Designed by the Consumer Financial Protection Board, this calculator lets you enter your specific information so you can estimate what each of your college choices may cost. A quick guideline: don't borrow more over four years than you expect your starting salary to be.
Compare Financial Aid Packages (uAspire)
Uaspire is a nonprofit organization that created this tool to help college-bound students and their families compare financial aid packages and estimate what a college may really cost.