Education
Scholarship Amount Calculator
Identify your financial gap between cost of attendance and available resources. See how much scholarship aid you should apply for.
Financial Details
Enter your financial details to see your scholarship gap analysis
How is this calculated?
Financial Need = Cost of Attendance - EFC
Unmet Need (Gap) = Financial Need - Other Grants/Aid
Recommended Scholarship Target = Unmet Need × 1.2 (20% buffer)
If Gap Filled by Loans (4 years):
Total Loan = Gap × 4
Monthly Payment = Loan × [r(1+r)^n] / [(1+r)^n - 1]
where r = 0.05/12, n = 120 (10 years at 5%)FAQ
Frequently asked questions about scholarship amounts
What is the Expected Family Contribution (EFC)?
EFC is a number calculated from your FAFSA that represents how much your family can afford to pay for college. It considers income, assets, family size, and number in college. Schools subtract EFC from cost of attendance to determine need.
What does 'unmet need' mean?
Unmet need (financial gap) is the difference between your total cost of attendance and all available resources (EFC + grants + scholarships). This gap must be filled by loans, work, or additional scholarships.
How much scholarship money should I apply for?
Apply for enough to cover your full unmet need plus a buffer of 10-20%. Many scholarships are competitive, so applying for more than you need accounts for ones you may not receive.
What counts as cost of attendance?
Cost of attendance (COA) includes tuition, fees, room & board, books, supplies, transportation, and personal expenses. Each school publishes their official COA, which financial aid is based on.
Can I get more aid than my cost of attendance?
No. Federal regulations cap total financial aid at the cost of attendance. If you receive more, the school must reduce other aid. However, you can use outside scholarships to reduce loans first.
What if I still have a gap after scholarships?
Remaining gaps are typically filled by federal student loans (subsidized first, then unsubsidized), parent PLUS loans, private loans, or work-study. Prioritize subsidized federal loans as they don't accrue interest while enrolled.