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A financial aid calculator helps families estimate their eligibility for financial assistance based on income, assets, and other factors. Here are some tools you can use to calculate potential financial aid for almost any college:
The FAFSA4Caster is an official tool provided by the U.S. Department of Education that gives a rough estimate of the federal aid you may qualify for based on your financial information.
The College Board provides an Estimated Student Aid Index (SAI) calculator. The SAI which replaced the EFC (Expected Family Contribution) calculator is the eligibility index number used by the financial aid office of institutions to estimate how much federal aid you can receive.
These tools provide general estimates of your financial aid, and they all use different factors to calculate your potential financial aid. However, remember that each college may have its own financial aid policies, so it’s always a good idea to use the school’s own financial aid calculator(if available) for more precise estimates.