The 5 Best Online Tools for Managing College Costs

Wouldn't it be nice if there was a tool to help your college debt disappear? This may never happen, but at least you can find some handy online resources to help you figure out or keep track of your college expenses. Read this blog learn about some of the best cost-calculating tools you can use for free online. Schools offering Business Management degrees can also be found in these popular choices.


Free Tools to Calculate Student Loan Costs and Payments Online

College is possibly the priciest endeavor you'll go through in your lifetime. How much will your college tuition cost? How much financial aid can you expect to receive? How much of your payments will be through loans? These questions can be answered with some of the Internet's best cost calculators. These are just five of them.

1. Net Price Calculator

This program is put together by the College Board. Using average statistics from each school, they take your family's income and generate the average cost to attend that college for someone in your income bracket. Begin by selecting a school, then fill in your information. Using your data, they'll provide you with information about average tuition, room, board, books and personal costs. They also supply the average loans, financial aid and work study that you can anticipate receiving. This is a great way to evaluate your choices.

2. CNNMoney College Cost Calculator

One of the simplest tools you can use is the CNNMoney Calculator. You have a choice between entering the school you want to attend or the state in which you live. If you enter your state, all the colleges in that state are listed for you to compare. If you know which college you want to attend, simply enter it into the search bar.

You'll receive six statistics on the following page: total annual cost (includes room and board, but doesn't include grants and scholarships), Money's estimated cost, in-state tuition, out-of-state tuition, the percentage of students receiving grants and scholarships, and the percentage of students who graduate within four years. You'll also have the option to change your family's income, and it will make adjustments to the estimated cost.

3. Income-Based Repayment Calculator

This calculator is sponsored by Federal Student Aid. They are aware that college costs have escalated extremely over the past decade, making student loans harder to repay. That's why the government has put this site together. Simply answer the income questions they ask and the results will provide you with an estimated monthly map for the Income-Based Repayment plan. This plan is great if your loans are much higher than your income. You can even have loans forgiven after 25 years of payments.

4. Graduated Repayment Calculator

Allowing you to set the interest rate for the term of your loan, calculates what your average monthly payment could be. This calculator bases its response on the idea that there will be a single interest rate through the life of the loan. If you don't have a fixed rate, this calculator may not be for you. At least take into account that their estimates can change. This is a great tool for students who haven't graduated but want a handle on their loans.

5. Student Loan Debt Calculator

In a perfect world, this calculator could be your best friend. Enter your student loan and credit card debts (if you have any) along with your current monthly payments. It will configure your new payments after consolidating your loans. The belief is that with the money you'll save on the new repayment plan, excess money can be used to pay off the principal and reduce loans and payment time. But, who has extra money lying around?

No matter what stage you are in your education, now is a good time to start thinking about how to repay your loans.

To continue researching, browse degree options below for course curriculum, prerequisites and financial aid information. Or, learn more about the subject by reading the related articles below:

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The schools in the listing below are not free and may include sponsored content but are popular choices among our users. Tuition and costs will vary across programs and locations. Be sure to always request tuition information before starting a program.

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