Financial Aid Calculator
Enter your student loan details to calculate payments and total cost.
Federal loans: 4-7%, Private loans: 3-12%
Results
About FAFSA EFC Calculator
Estimate Expected Family Contribution (EFC) for financial aid eligibility.
Understanding Financial Aid
Key factors in managing student loans:
- Federal loans offer protections like income-driven repayment and forgiveness programs
- Interest rates and repayment terms significantly impact total cost
- Making extra payments reduces interest and shortens payoff time
- Refinancing may lower rates but eliminates federal protections
Repayment Strategies
- Standard 10-year plan minimizes total interest paid
- Income-driven plans base payments on earnings (IBR, PAYE, REPAYE)
- Refinancing makes sense if you have good credit and don't need federal benefits
- Consider loan forgiveness programs if working in public service or teaching