Scholarship & Financial Aid Calculator
Estimate net tuition cost after scholarships, grants, work-study, and loans — plus your monthly loan payment after graduation.
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How to use this calculator
- 1
Enter your annual tuition and fees.
- 2
Add each type of aid: merit scholarships, need-based grants, work-study, and other grants.
- 3
Enter how much in student loans you plan to take per year.
- 4
See your net tuition, four-year cost, total loan debt, and estimated monthly payment after graduation.
Frequently asked questions
What counts as “free-money aid” in this tool?
The tool adds four inputs together: merit scholarship, need-based grant, work-study award and other grants. Work-study is included in that total, even though in practice it is earned through a job rather than paid up front, so the net figure assumes you collect all of it. Set it to 0 if you want a stricter view.
How is the monthly loan payment estimated?
It takes four years of loans (annual loans × 4) and calculates a fixed monthly payment over 120 months at 6% a year. The rate and term are fixed in the tool and cannot be changed. It ignores interest that accrues while you study, fees, grace periods and any income-based plan.
Why is “net after aid + loans” sometimes zero?
The tool subtracts loans from the net tuition and will not go below zero. The loan total and monthly payment still use the full loan amount you typed, even if it exceeds the remaining tuition.
Does it assume four identical years?
Yes. The four-year figures simply multiply this year’s net tuition and loans by 4, with no tuition increase, no change in aid and no dropped scholarship if your grades slip.
What is not included in the cost?
Anything beyond tuition and fees: housing, food, books, travel and personal costs. Enter only tuition and fees in the first box, or add your other costs there if you want a total-cost view.
Why does it show a dollar sign?
The results are formatted in dollars with US-style separators, whatever the currency symbol on the input fields. Treat the figures as plain numbers if you work in another currency; the 6% rate and 10-year term remain the same.
What happens if I leave tuition blank?
Clearing the tuition box counts as 0, because an emptied number box becomes 0 rather than the starting 30,000. Tuition of 0 is respected, and the net amounts then show as 0.
Scholarship and financial aid calculator with a loan payment estimate
From tuition to net cost
Start with annual tuition and fees, then subtract everything that does not need repaying. The tool sums merit scholarship, need-based grant, work-study and other grants as free-money aid, subtracts that from tuition (never going below zero), and reports the net annual tuition. Subtracting the loans you plan to take gives a second figure, the amount still to be covered from savings or income. Multiplying by four years gives the totals shown below the annual lines.
Worked examples
Using the default inputs, 30,000 of tuition less 10,500 of aid (5,000 merit, 3,000 need-based and 2,500 work-study) leaves 19,500. With 10,000 of loans each year, 9,500 remains to cover each year, the four-year net tuition is 78,000, the loan total is 40,000 and the estimated payment is $444.08 a month. For a 20,000 tuition with 12,000 of aid and 5,000 of loans, the net is 8,000, the remainder after loans is 3,000, four years cost 32,000 and the payment on 20,000 of loans is $222.04. With no aid at 45,000 and 12,000 of loans a year, the net is 45,000, four-year net tuition is 180,000 and the payment on 48,000 is $532.90.
| Tuition | Free aid | Loans per year | Net after aid | 4-year loans | Monthly payment |
|---|---|---|---|---|---|
| 30,000 | 10,500 | 10,000 | 19,500 | 40,000 | $444.08 |
| 20,000 | 12,000 | 5,000 | 8,000 | 20,000 | $222.04 |
| 45,000 | 0 | 12,000 | 45,000 | 48,000 | $532.90 |
How the loan payment is modelled
The payment is the standard fixed instalment on the total of four years of loans, at 6% for 120 months. Notice what that leaves out: interest that builds up while you are enrolled, origination fees and any rate that differs from 6%. Use it to compare packages on a like-for-like basis, such as a bigger grant against a bigger loan, rather than as a quote from a lender. Your actual loan terms will set the real payment.
Comparing two offers
Run each offer separately and compare three numbers: the free-money total, the four-year loan total and the monthly payment. Pay attention to the work-study line, which this tool counts as aid. If one offer relies on a large work-study award, set it to 0 in a second run to see the cost without it. A package that looks cheaper may only be cheaper if you take the job.
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Results are estimates for informational purposes only and do not constitute professional financial, medical, legal, or technical advice. Read full disclaimer →