Federal Loan Calculator

An important part of paying for your education using federal loans is knowing how much you need and being careful not to overborrow.

You can use the Federal Loan Calculator to figure out how much money you will receive from your student loan (that will apply to your billing statement) or to determine the amount you may need to borrow. You should consider origination fees when deciding how much to borrow.

All amounts below are represented in U.S. dollars. Loan disbursements are made in whole dollars. This tool should be used as an estimate and is subject to changes made by Department of Education guidance.

When you borrow a federal student loan, you are charged an origination fee by the U.S. Department of Education. This fee is a percentage of the total loan amount you are borrowing and is deducted proportionately from each disbursement of your loan.

The loan fee reduces the actual loan amount you will receive. You need to consider the origination fee when you request your loan amount.

Current loan origination fees for loans first disbursed on or after October 1, 2021 are:

The specific loan fee that you are charged will be included in a disclosure statement sent to you after the first disbursement of your federal student loan.