When planning your college journey, you may be staring at that award letter trying to figure out how to cover the cost. A financial aid funding gap is the remaining cost you will need to cover after considering your scholarships, grants, and financial aid. And many students face a funding gap, even after applying for financial aid.
Meet Cash, Edvisors’ friendly Corgi.
Cash will guide you through calculating your gap and creating a plan to bridge it. You and your support system shouldn’t be faced with surprises.
Prepare to bridge the financial gap with confidence!
Start with our easy-to-use Edvisors Financial Aid Gap Calculator to see if you have a funding gap. And if you do, we’ll offer your suggestions to mind the gap. Cashwill be there with you!
- Log into your Edvisors Dashboard: If you don’t have an account, it’s easy to set up!
- Start with the Basics: Enter your school – this step is simple! You can always change your school if you have been accepted into more than one school.
- Cost of Attendance: We have some information to help get you started, or to help you calculate an estimate. But if you have the exact figures from your school, be sure to update!
- Student Aid Offers: Add details about scholarships, grants, and federal aid you’ve already secured. If you’re not sure what you’ll get, you can put in some estimates now, and update with your exact award later.
- Scholarships: If you’ve taken the time to win scholarships, enter them in this section. Every dollar helps, even those small awards. You can add or edit this section later as well!
- Work-Study Awards: If your school has indicated that you’re eligible for Work Study, don’t forget to include that. Even you accept the award, you can earn funds to cover your college costs.
- College Savings Account: If you have a College Savings Plan (e.g., 529 Plan) you can start inputting how you want to use this for your first year. Remember, sometimes paying for college comes with strategy!
- Extra Contributions: Here’s your chance to input other funds that will be used help cover your college costs. Did you work on building a savings account or saving money from birthday and holiday gifts. Input what you, or your family, will contribute to your college costs.
- Private Student Loans: If you, or a parent, are planning to borrow additional funds through a private lender, enter that amount here. And remember, be realistic and responsible when it comes to borrowing.
- Student Aid Index or SAI: Your SAI is calculated after you complete your FAFSA®, or Free Application for Federal Student Aid. This index number is used by schools to determine your financial aid award. If you don’t have one yet, you can leave this blank and fill it out later.
- Reveal Your Funding Gap: Our tool instantly calculates the gap, giving you clarity on what’s left to cover.
- Get Solutions: Receive customized tips and actionable steps to close the gap.
Find Your Gap Now By Logging into your Edvisors Dashboard
How to Bridge the Gap
Here’s what you can do with Edvisors:
- Learn how to apply for institutional aid or scholarships directly from your school.
- Discover cost-saving tips like budgeting, textbook rentals, and affordable meal plans.
- Get advice on balancing part-time work with academics.
- Explore private student loans to fill financial gaps (only as a last resort!)
Plan wisely, bridge the gap, and go confidently toward your degree—with a little help from Edvisors and Cash!
