To make college more accessible, a growing number of institutions are eliminating student loans altogether.
More than 20 schools now have “no-loan” policies, which means they will meet 100% of an undergraduate’s need for financial aid with grants rather than education debt.
Net Price is the amount that a student pays to attend an institution in a single academic year AFTER subtracting scholarships and grants the student receives. Scholarships and grants are forms of financial aid that a student does not have to pay back.
Net price calculators are available on a college’s or university’s website and allow prospective students to enter information about themselves to find out what students like them paid to attend the institution in the previous year, after taking grants and scholarship aid into account. Use this tool to search for the net price calculator on a college's website.
The Loan Simulator tool from Federal Student Aid helps you calculate student loan payments and choose a loan repayment option that best meets your needs and goals. You can also use it to decide whether to consolidate your student loans.
Using a student loan calculator can help you create a student loan repayment strategy that’s right for you. With some basic information about your existing or prospective student loan, the Bankrate student loan calculator shows you the monthly loan payment you can expect, how long it’ll take you to repay your entire loan and how much interest you’ll pay overall. Enter the details of your student loan into the calculator below to see your personal results.
This tool from the Illinois Student Assistance Commission allows you to enter information from your financial aid award letter and make a side-by-side comparison.