Scholarship Needs Calculator

Plan Your College Funding Strategy

This calculator helps prospective college students estimate their financial gap—the amount of money they may need to cover through scholarships, loans, or work-study. By inputting your estimated annual college costs and your available funding, it calculates the remaining amount, providing a clear target for your scholarship search.

The Formula Explained

Scholarship Need = Total Costs - Available Funding

• Total Costs: The sum of tuition, fees, room & board, books, and other personal expenses for one academic year.
• Available Funding: The sum of what your family can contribute and any other grants or aid you have already secured.

How to Use the Calculator

1. Annual College Costs: Enter your estimated costs for tuition, housing, books, and other expenses.
2. Available Annual Funding: Enter the amount your family plans to contribute and any other grants or aid you've already been awarded.
3. Calculate: The tool will display your estimated annual scholarship need.

Real-World Example

A student is looking at a university with the following estimated annual costs:

• Tuition & Fees: $25,000
• Room & Board: $12,000
• Books & Supplies: $1,500
• Other Expenses: $2,000
• Total Costs: $40,500

The student's family can contribute $15,000, and they received a $5,000 state grant.

• Available Funding: $15,000 + $5,000 = $20,000
• Scholarship Need: $40,500 - $20,000 = $20,500
• The student has an estimated annual need of $20,500.

Frequently Asked Questions (FAQ)

• Where can I find the cost of a college? Every college's website has a 'Tuition & Fees' or 'Financial Aid' section that lists the 'Cost of Attendance' (COA). This is the best number to use for 'Total Costs'.
• What is an 'Expected Family Contribution' (EFC)? The EFC is a number that comes from filling out the FAFSA (Free Application for Federal Student Aid). It's an index number that colleges use to determine your eligibility for federal student aid. Our 'Family Contribution' field is a simplified version of this.
• What if my need is a large number? Don't be discouraged. The calculated need is the amount you'll need to cover through a combination of scholarships, work-study programs, and student loans. This number helps you understand what to apply for.