Student uses a Student Loan Calculator to estimate cost

Student Loan Calculator

In a few simple steps, you can use our student loan calculator to estimate how much you need to borrow
in private student loans.

[ - ] Step 1 - Calculate Your Annual Cost to Attend
Total Annual Cost to Attend: $0.00

Enter the annual costs to attend the college of your choice. For multiple fees, use the itemize button to automatically calculate your totals.

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Tip

To help you determine the annual cost of attendance, please visit your school's Website for details.

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[ + ] Step 2 - Calculate Your Gift Aid (Scholarships & Grants)
Total Gift Aid: $0.00

Enter the total amount of gift aid awarded. For multiple awards, use the itemize button to automatically calculate your totals.

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Tip

By taking advantage of scholarships and grants, you reduce the overall cost of attending school.

[ + ] Step 3 - Calculate Your Financial Contributions
Total Contributions: $0.00

Enter the amounts of savings and income you plan to contribute for the school year.

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To help keep your borrowing to a minimum, consider tapping into your savings and other forms of financial contributions.

[ + ] Step 4 - Review Your Student Loan Options
Total Amount to Finance: $0.00

If you need more money to cover your costs, explore federal and private student loans to help finance your education.

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Always consider federal student loans first if you need to borrow. Federal loans feature fixed interest rates and a variety of repayment options. To assess if you are eligible for federal student loans, see the Award Letter from your school.

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Here is how much you may need to borrow in private loans:

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Student Loan

Tip

Once you exhaust free money, family contributions, savings and wages, consider federal and private student loans. Student loans are designed to pick up where grants, scholarships and other types of financial aid leave off.

Note: This student loan calculator does not use the official formula used by the US Department of Education to calculate your Expected Family Contribution (EFC). As a result, these estimates may differ from the official EFC. We do not guarantee its accuracy or applicability to your circumstance, and we encourage you to consult a qualified professional.

Help Icon Fees Close

Fees are some of the common school charges you may incur, in addition to your tuition.

Fees Close

Enter applicable fee amounts and click "Finished" to automatically calculate your total.

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Help Icon Scholarships Close

Scholarships are sources of money that do not need to be paid back. Thousands of scholarships are available through colleges, your state, and various companies, organizations, and clubs.

Most colleges automatically consider you for a college-based scholarship when you apply for admission. If you qualify, your school's Admissions Office will notify you. As for the other types of scholarships, search the Web and seek recommendations from friends, family, and academic advisors.

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Enter scholarship amounts awarded and click "Finished" to automatically calculate your total.

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Help Icon Grants Close

Grants are sources of money that do not need to be paid back. They are awarded to students who demonstrate a financial need based on formulas established by federal and state governments, your school, or private organizations.

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Enter grant amounts awarded and click "Finished" to automatically calculate your total.

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Help Icon Income Close

If you plan to work part-time or accept a work-study job, use these earnings to help pay for educational expenses or items such as books or meal plans.

Help Icon 529 Savings Plan Close

A 529 Plan is an education savings plan operated by a state or educational institution designed to help families set aside funds for future college costs.

Help Icon Tuition Reimbursement Close

Some companies provide financial assistance to employees seeking continuing education. Tuition reimbursement may provide eligible employees with the opportunity to obtain, maintain, or improve their professional capabilities through participation in courses of study at accredited colleges and universities.

Help Icon Federal Perkins Loan Close

Federal Perkins Loans are school-based, low-interest education loans available for US citizens and eligible non-citizens enrolled at least half-time in an undergraduate, graduate or professional program. No credit check or cosigner is required. These loans are awarded based on exceptional financial need. To determine if you may be eligible for this loan, it is important to complete a Free Application for Federal Student Aid (FAFSA), even if you do not think you will be eligible for financial aid.

Eligibility for this type of loan will be defined in the Award Letter from your school.

Help Icon Direct Stafford Loan Close

Direct Stafford Loans are available to US citizens and eligible non-citizens enrolled at least half-time in an undergraduate or graduate program. No credit check or cosigner is required. Stafford Loans may be subsidized or unsubsidized. Subsidized Stafford Loans are available to undergraduate students who demonstrate financial need, and the government pays the interest on these loans while the student is in school. Unsubsidized Stafford Loans are available to undergraduate and graduate students regardless of financial need and the student is responsible for paying the interest but can defer payments while in school.

Eligibility for this type of loan will be defined in the Award Letter from your school. If you are eligible for federal student loans and you decide to borrow, you must apply for these loans directly from the federal government.

Help Icon Direct PLUS Loan for Graduate Students Close

Direct PLUS Loans are available to US citizens and eligible non-citizens enrolled at least half-time in a graduate or professional program. Students must pass a credit check, and no cosigner is required. These loans let students borrow up to the full cost of education minus any other financial aid. To determine if you may be eligible for this loan, it is important to complete a Free Application for Federal Student Aid (FAFSA), even if you do not think you will be eligible for financial aid.

Eligibility for this type of loan will be defined in the Award Letter from your school. If you are eligible for federal student loans and you decide to borrow, you must apply for these loans directly from the federal government.

Help Icon Direct PLUS Loan for Parents Close

Direct PLUS Loans are available to parents who are US citizens and eligible non-citizens with dependent students enrolled at least half-time in an undergraduate program. Parents must pass a credit check. These loans let parents borrow up to the full cost of their child's education minus any other financial aid. To determine if you may be eligible for this loan, it is important to complete a Free Application for Federal Student Aid (FAFSA), even if you do not think you will be eligible for financial aid.

Eligibility for this type of loan will be defined in the Award Letter from your school. If you are eligible for federal student loans and you decide to borrow, you must apply for these loans directly from the federal government.

Help Icon Private Student Loans Close

Private student loans supplement federal loans and other financial aid. You can apply for a private loan on your own. By adding a cosigner, you may improve your chance for loan approval and may receive a lower interest rate.

When shopping for a private student loan, look for a certified private student loan. A certified private student loan is a loan where your school verifies how much you should borrow. This helps ensure you borrow only what you need.

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