Award Letter Analyzer

Transcription

1 Award Letter Analyzer Name: High School: College name On/Off Campus Tuition & Fees Room & Board Total Direct Costs Direct Cost Year Gift Aid Pell Grant State Grant SEOG Grant Institutional Grants/Scholarships Other Grants/Scholarships Total Gift Aid: (Money that does NOT need to be repaid) Loans Direct Subsidized Stafford Loan Direct Unsubsidized Stafford Loan Perkins Loan Other Loan(s) Do not include the Parent PLUS loan. Total Loans: (Borrowed money that needs to be repaid with interest) Estimated Bill (Amount you pay) (Total Direct Costs - Gift Aid - Loans = Estimated Bill) Fall Estimated Bill Spring Estimated Bill Net Costs (Estimated Bill + Loans) Amount of Parent PLUS Loan Offered On Award Letter (not included in total)

2 You will also incur additional unbilled expenses when going to college. On average these are between $2,000 and $3,000 per year. My College Expenses (Books + Cell Phone + Travel...) One way to cover some of your college expenses (cell phone, travel, books ) is work-study if you were offered it. This money must be earned. Total Work-Study (Earned money that does not go toward your college bill.) EFC (Expected Family Contribution): $: Approximate Loan Debt From Direct Stafford, Perkins, and State Based Loans At Graduation Assuming standard increases of Direct Stafford Loan eligibility over 4 years, with no interest compounding while in college. This amount does not include any financing necessary to cover the "Estimated Bill." Estimated Student Loan Payment: (Assuming a 5% interest rate compounded annually, and a standard 10 year repayment plan). Taking a Look Into the Future... $0.00 $0.00 $0.00 Additional Loans for School Year Total Additional Loans (Assuming additional loans are taken out for 4 years at the same dollar amount and interest rate, with no interest compounding while in school) Estimated Additional Loan Payment Post Graduation (Assuming a 7% interest rate compounded annually, and a standard 10 year repayment plan) $0.00 $0.00 $0.00

3 On Campus Off Campus Award Letter Analyzer Name: High School: College name On/Off Campus Tuition & Fees Room & Board Total Direct Costs Direct Cost Year Gift Aid Pell Grant State Grant SEOG Grant Institutional Grants/Scholarships Other Grants/Scholarships Total Gift Aid: (Money that does NOT need to be repaid) Loans Direct Subsidized Stafford Loan Direct Unsubsidized Stafford Loan Perkins Loan Other Loan(s) Do not include the Parent PLUS loan. Total Loans: (Borrowed money that needs to be repaid with interest) Estimated Bill (Amount you pay) (Total Direct Costs - Gift Aid - Loans = Estimated Bill) Fall Estimated Bill Spring Estimated Bill Net Costs (Estimated Bill + Loans) Amount of Parent PLUS Loan Offered On Award Letter (not included in total)

4 My College Expenses (Books + Cell Phone + Travel...) Total Work-Study (Earned money that does not go toward your college bill.) Approximate Loan Debt From Direct Stafford, Perkins, and State Based Loans At Graduation Assuming standard increases of Direct Stafford Loan eligibility over 4 years, with no interest compounding while in college. This amount does not include any financing necessary to cover the "Estimated Bill." Estimated Student Loan Payment: (Assuming a 5% interest rate compounded annually, and a standard 10 year repayment plan). Taking a Look Into the Future... $0.00 $0.00 $0.00 Additional Loans for Freshman Year Total Additional Loans (Assuming additional loans are taken out for 4 years at the same amount and interest rate, with no interest compounding while in school) Estimated Additional Loan Payment Post Graduation (Assuming a 7% interest rate compounded annually, and a standard 10 year repayment plan) $0.00 $0.00 $0.00

5 Award Letter Analyzer Name: High School: College name On/Off Campus Tuition & Fees Room & Board Total Direct Costs Direct Cost Year Gift Aid Pell Grant State Grant SEOG Grant Institutional Grants/Scholarships Other Grants/Scholarships Total Gift Aid: (Money that does NOT need to be repaid) Loans Direct Subsidized Stafford Loan Direct Unsubsidized Stafford Loan Perkins Loan Other Loan(s) Do not include the Parent PLUS loan. Total Loans: (Borrowed money that needs to be repaid with interest) Estimated Bill (Amount you pay) (Total Direct Costs - Gift Aid - Loans = Estimated Bill) Fall Estimated Bill Spring Estimated Bill Net Costs (Estimated Bill + Loans) Amount of Parent PLUS Loan Offered On Award Letter (not included in total)

6 My College Expenses (Books + Cell Phone + Travel...) Total Work-Study (Earned money that does not go toward your college bill.) Approximate Loan Debt From Direct Stafford, Perkins, and State Based Loans At Graduation Assuming standard increases of Direct Stafford Loan eligibility over 4 years, with no interest compounding while in college. This amount does not include any financing necessary to cover the "Estimated Bill." Estimated Student Loan Payment: (Assuming a 5% interest rate compounded annually, and a standard 10 year repayment plan). Taking a Look Into the Future... $0.00 $0.00 $0.00 Additional Loans for Freshman Year Total Additional Loans (Assuming additional loans are taken out for 4 years at the same amount and interest rate, with no interest compounding while in school) Estimated Additional Loan Payment Post Graduation (Assuming a 7% interest rate compounded annually, and a standard 10 year repayment plan) $0.00 $0.00 $0.00