Special financial or household circumstances, like drastic annual income fluctuations or high medical expenses, will have an impact on your aid, too. Step 1: Input your information. Step 2: See possible financial aid. Step 3: Calculate. Understanding your results. Other ways to forecast college costs. Net price calculators. Financial aid counselors.
Four Get2College staff standing against brick wall. Two female students reading a college planning brochure in the campus library. Group of Students sitting in desks in a classroom. Students Listening in Class. After filling in all of the required information, the FAFSA4caster estimates how much aid could be available to you in the form of Pell Grants , the federal work-study program and federal student loans in the next academic year.
Follow these steps to ensure the process runs smoothly and quickly for you:. If you have nontaxable income, you can add this number on top of the adjusted gross income on your tax return for a more accurate result.
You will not need to provide information on a family home that is a primary residence. Click start to use the tool. The form takes about 10 minutes to complete. Answering whether you are a U. However, there are a few categories of eligible noncitizens who qualify including green card holders and citizens of certain countries.
The FAFSA4caster asks household questions to help determine the resources your family has for basic living, as well as whether any resources your family has for sending a student to college need to be split among multiple people, including siblings or spouses who have gone back to school.
If yes, enter your adjusted gross income and your income minus certain deductions from the previous year. Next, answer several questions about your assets. You can estimate what you have from savings, investment accounts and property. If you lived in different states, you should contact a local college financial aid office and get clarification on residency rules. High school counselors can help, too. You also should use net price calculators available on school websites for estimating college, state and federal financial aid awards.
Advertiser Disclosure. The FAFSA4caster is a calculator you can use to predict how much federal financial aid you can expect to receive — regardless of where you decide to go to school. This calculator can help you compare schools by price. The first two steps help the calculator estimate your eligibility for federal aid programs, such as Pell Grants and federal student loans. The last two steps allow you to review your potential federal aid awards and provide information about other resources you might use to pay for school.
You also might have to answer questions about military service and your relationship with your parents or guardians. You might want to ask your parents for help answering these questions:. This section allows you to provide information on other resources you plan on using to pay for college. It can also tell you how much your family might need to fork over for school before you apply. You can learn more about how to pay for school by reading our guide to student loans.
The information you enter in the calculator will not appear on or affect your FAFSA application in any way. Anna Serio is a trusted lending expert and certified Commercial Loan Officer who's published more than 1, articles on Finder to help Americans strengthen their financial literacy.
A former editor of a newspaper in Beirut, Anna writes about personal, student, business and car loans. The new coronavirus stimulus proposal would cut out seven student loan repayment plans, giving borrowers less flexibility.
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