How do you estimate your aid by using a financial aid eligibility chart?


Quick Answer

You can create a chart to estimate the college aid you are eligible for by using the FAFSA4caster calculator and worksheet on the official website for the Free Application for Federal Student Aid. The program allows you to enter your personal financial information, chart the financial aid you are eligible for and identify the remaining cost of attendance at various schools.

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Full Answer

Access the FAFSA4caster program from the main page of FAFSA.gov by clicking on the box under Thinking About College. Answer the questions as accurately as you can using up-to-date information from your personal records, such as bank statements and tax reports. If you don't know some answers, write down your best estimation.

When you finish entering your personal information and submit it, a worksheet appears to help you chart information on specific schools, according to Federal Student Aid. To calculate your aid and estimated financial liability, type in how much it costs to attend the school. Add any information on state or private scholarships you may receive. The worksheet estimates the amount of federal aid in the form of grants, loans and work study you can receive based on your present finances as well as the amount of your expected family contribution. To estimate aid and expenses for another school, change the cost of attendance, and delete the state aid if you would be an out-of-state student.

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