Financial aid tools can help students and parents get organized and make informed decisions about how to pay for college. These tools include financial aid calculators, financial aid checklists, college planning calendars and a glossary of financial aid and college admissions terminology.
- Student Loan Calculator. This tool calculates the monthly loan payment based on the loan balance, interest rates, fees and repayment term.
- Saving for College vs. Saving for Retirement. Compare two strategies for saving for retirement. If the interest rate on debt exceeds the interest rate on savings, saving for college in addition to saving for retirement will yield more money for retirement than saving only for retirement while borrowing for college.
- Age-Based Asset Allocation Calculator. This tool calculates the equivalent fixed annual rate of return that corresponds to a particular age-based asset allocation investment approach.
- College Shopping Checklist. This checklist can be used as a shopping list for the student's dorm room or apartment.
- Hidden College Costs Checklist. This checklist identifies hidden fees and unanticipated expenses that add to college costs.
- Financial Aid Planning Calendar. This calendar identifies key steps in planning for student financial aid and future college costs.
- College Admissions Planning Calendar. This calendar identifies key steps that students and parents must take as they plan for college admissions.