FINANCIAL AID AWARD LETTER COMPARATOR · RUNS IN YOUR BROWSER · NOTHING UPLOADED

Which college offer will really cost less?

Type in what each award letter says and see the true four-year cost of every offer. Only grants and scholarships cut the price. Loans are a bill that arrives later with interest, and work-study is a job. The tool adds up what your family pays in cash and in loan payments, catches first-year-only scholarships that make year 2 jump, and works out the extra grant that would make a dearer offer match the cheapest one.

The example below is made-up numbers, not a real letter. New to this? Read how to compare financial aid offers, with a worked example.

1. Your offers

One block per college, a blank line between blocks. Use label: amount lines. Known labels: College, Tuition and fees, Housing and food, Books and other (or one Cost of attendance total), Grants and scholarships, One-time first-year grant, Work-study, Subsidized loan, Unsubsidized loan, Parent PLUS, Private loan. Lines starting with # are ignored.

2. Assumptions (edit these)

Rates and fees start at 2025-26 federal figures. Replace them with the rates for the year you borrow (studentaid.gov); private loan terms are on your lender's offer.

Questions

How do I compare financial aid award letters?

Put the same four things from each letter side by side: the full cost of attendance, the grants and scholarships (money you never repay), the loans (money you repay with interest) and work-study (money you earn by working). Subtract only the grants from the cost to get the net price, then add what the loans will cost you over their repayment. This tool does that for every offer and ranks them by total cost to your family.

Are loans and work-study financial aid I should subtract from the price?

Not as a price cut. Loans are borrowed money that you repay, usually with interest, so they move the bill into the future. Work-study is a job: the amount is the most you can earn, only if you find and work the hours. Only grants and scholarships reduce what the college costs you. The tool shows loans and work-study separately for that reason.

What is a first-year-only scholarship and why does it matter?

Some award letters include a grant that applies to the first year only, or one that renews only if you keep a minimum grade point average. Year 1 then looks cheap and years 2 to 4 cost much more. Enter a non-renewing grant on its own line (One-time first-year grant) and the tool shows how the net price steps up from year 2.

How is the cost of the loans worked out?

Each year's loans are assumed to be borrowed at the start of the year. Subsidized loans add no interest while you are in school; the other loans add simple interest until repayment starts, after a grace period you can set. The balance is then repaid in equal monthly payments over the term you choose, at the rate you enter. Origination fees are counted as cash you pay. Rates and fees start at 2025-26 federal values and you should replace them with the ones that apply to you.

What does 'grant needed to match' mean, and can I use it to appeal an offer?

It is the extra gift aid per year that would bring that offer's total cost down to the cheapest offer, with any loan you no longer need dropped. It is a number to start a conversation: many financial aid offices will look at a written appeal that shows a competing offer or a change in your family's circumstances. The tool does not know whether any office will agree.

Is this financial advice, and is my information uploaded?

No to both. It is arithmetic on the numbers you type, not financial, tax or legal advice, and it is not affiliated with any college or with the U.S. Department of Education. Everything runs in your browser, nothing is sent to a server, there are no accounts, and nothing is saved when you close the page.

Why does the cheapest sticker price not always win?

Because the sticker price is before aid. A college with a high published price and a large renewing grant can cost less than a cheaper-looking college that offers loans instead of grants. The comparison that matters is the total you will pay, in cash during school and in loan payments afterwards.