Gap After Scholarships Calculator
Scholarships and grants rarely cover the whole bill. Enter your yearly cost and the aid you expect, and this free calculator shows the gap left over, how much of it federal student loans can cover, and what that borrowing could cost per month. Nothing you type leaves your browser.
How the gap gets covered, in the order that usually costs least
- Apply for more scholarships. Small local awards add up. Browse scholarships closing soon, no-essay awards or take the Match me quiz.
- Ask the college to review your aid. If your family's finances changed, the financial aid office can do a professional-judgment review.
- Federal Direct Loans for the student. Fixed 6.52% for undergraduate loans first disbursed July 1, 2026 to June 30, 2027, with income-driven repayment and other federal protections.
- Parent PLUS loans. Fixed 9.07% for 2026–27. From July 1, 2026, parents can borrow up to $20,000 per year and $65,000 in total per dependent student.
- Private student loans, last. Compare them only after federal options. See our student loan and refinancing guide.
Sources: Federal Student Aid, 2026–27 Direct Loan interest rates · Federal Student Aid, Direct Loan limits · 20 U.S.C. § 1087e (Parent PLUS limits from July 1, 2026)
This is an estimate for planning, not financial advice or a loan offer. Federal loan limits shown are the standard annual limits for full-time undergraduates. Your college sets your actual aid package.
Frequently asked questions
What is the gap after scholarships?
It is your cost of attendance minus grants, scholarships, family savings and work earnings. Whatever is left is what you still need to cover, usually with loans or more aid.
How much can a student borrow in federal loans?
Dependent undergraduates can borrow up to $5,500 in year 1, $6,500 in year 2 and $7,500 in year 3 and later. Independent undergraduates can borrow $9,500, $10,500 and $12,500.
What is the federal student loan interest rate for 2026–27?
Undergraduate Direct Loans first disbursed July 1, 2026 to June 30, 2027 have a fixed 6.52% rate. Parent PLUS loans are 9.07%.
Is this calculator free?
Yes. It is free, needs no sign-up, and runs in your browser.
How we calculate
- Gap = cost of attendance − (grants and scholarships + family contribution + work earnings).
- Student federal loan covers the gap up to the standard annual Direct Loan limit for the year and status you pick; for dependent students, Parent PLUS covers what is left up to $20,000 per year.
- Monthly payments use the standard 10-year amortization formula at the fixed 2026–27 rates: 6.52% (undergraduate Direct Loans) and 9.07% (Parent PLUS).
Sources
- Federal Student Aid, 2026–27 Direct Loan interest rates ↗
- 20 U.S.C. § 1087e, Parent PLUS limits from July 1, 2026 ↗
Method and sources verified on Oct 25, 2026. Estimates only, not advice.
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