Calculator Inputs
The page uses a single stacked content flow, while the form fields shift to three, two, or one columns based on screen size.
Formula Used
1) Cost of Attendance
Cost of Attendance = Tuition + Books + Housing + Transportation + Other Costs
2) Net Funding Need
Net Funding Need = Cost of Attendance - Grants - Scholarships - Savings
3) Debt to Income Ratio
Debt to Income % = Existing Monthly Debt / Monthly Income × 100
4) Requested Monthly Payment
Payment = P × r × (1 + r)n / ((1 + r)n - 1), where P is requested loan, r is monthly rate, and n is total months.
5) Safe Monthly Payment
Safe Payment = Lower of 45% of monthly surplus or 12% of monthly income
6) Eligibility Score
The score blends affordability, debt pressure, academic performance, credit strength, enrollment level, cosigner support, study need, and residency.
Eligibility Score = 30% Payment Coverage + 15% DTI Score + 15% Academic Score + 15% Credit Score + 10% Enrollment Score + 5% Cosigner Score + 5% Need Alignment + 5% Residency Score
7) Estimated Eligible Loan
Estimated Eligible Loan = Lower of score-adjusted affordability and score-weighted funding need, then limited so it never exceeds the calculated funding need.
How to Use This Calculator
- Enter your household income, study costs, and aid values.
- Add current monthly debt to reflect existing repayment pressure.
- Select GPA, enrollment status, credit profile, residency, and cosigner availability.
- Enter the loan amount you want, expected rate, and repayment term.
- Press Calculate Eligibility to view score, supported amount, payment pressure, gap analysis, and the Plotly chart.
- Use the CSV and PDF buttons to save the result for planning or discussion.
Example Data Table
Illustrative Scenario| Category | Metric | Example Value |
|---|---|---|
| Input | Annual Family Income | $72,000.00 |
| Input | Household Size | 3 |
| Input | Tuition | $22,000.00 |
| Input | Books and Supplies | $1,800.00 |
| Input | Housing and Living | $10,500.00 |
| Input | Transportation | $2,400.00 |
| Input | Other Costs | $1,600.00 |
| Input | Grants + Scholarships + Savings | $10,000.00 |
| Input | Requested Loan | $18,000.00 |
| Input | GPA | 3.60 |
| Output | Cost of Attendance | $38,300.00 |
| Output | Net Funding Need | $28,300.00 |
| Output | Estimated Eligible Loan | $28,300.00 |
| Output | Eligibility Score | 94.5/100 |
| Output | Approval Band | Strong |
FAQs
1) What does this calculator estimate?
It estimates study cost pressure, net funding need, repayment affordability, and a planning-based eligibility score. It does not replace lender underwriting.
2) Is the result a guaranteed approval?
No. Schools, public programs, banks, and private lenders can use different rules, documents, limits, and credit checks before approving any loan.
3) Why does household size matter?
A larger household can reduce spare income available for education payments. The calculator uses it to estimate a living-cost buffer before setting a safe payment.
4) Why include GPA and enrollment status?
Academic performance and enrollment intensity can influence funding access, continuation standards, or lender confidence. Better academic strength can support a stronger result.
5) What is a safe monthly payment?
It is the calculator’s estimate of a manageable payment based on monthly surplus and income limits. It helps avoid overborrowing.
6) How can I improve my score?
Lower the requested amount, reduce existing debt, improve grades, add more grants or savings, choose a longer repayment term, or include a cosigner.
7) Should I enter yearly or total program costs?
This layout is best for annual cost planning. Keep your inputs in the same time frame so the results stay consistent and comparable.
8) Can international students use this tool?
Yes. The residency field adjusts the planning score, but real loan availability depends on country rules, school policies, visa status, and lender requirements.