Payment Worksheets and Tutorials
Determining a family’s financial obligation is an important part of preparing for college — and it can be confusing to figure out how much you will have to pay each quarter. We have developed a worksheet to help you arrive at a good estimate of what your family will need to pay.
To fill out your worksheet, you will need to know several things.
- Quarterly costs. Please see tuition costs to determine your specific tuition and room and board costs. These are based on the credits and housing/meal plans you have chosen.
- Your current Offer of Financial Assistance. See the offer you received for quarterly amounts of financial aid. You can also view your offer for the year in Banner. If you have not yet received an Offer of Financial Assistance, or do not plan to receive financial aid, you can leave the second section of the worksheet blank.
- If you are receiving loans, note that some loans have fees, and the amount you are borrowing will not be the amount available to pay your account. Please adjust each of the following loan types by the percentage indicated.
- Direct Loans, Subsidized and Unsubsidized:
- First disbursement on or after October 1, 2015, and before September 30, 2016: 1.068%
- First disbursement on or after October 1, 2014, and before September 30, 2015: 1.073%
- Direct PLUS loans:
- First disbursement on or after October 1, 2015, and before September 30, 2016: 4.272%
- First disbursement on or after October 1, 2014, and before September 30, 2015: 4.292%
- Institutional loans: 5%
- Alternative loans: varies, refer to your promissory note.
Example: A direct loan of $4,500 for the full year is $1,500 per quarter. $1,500 x .9893 (the net 1.068% adjustment) = $1,484. Someone borrowing a direct loan of $4,500 should list $1,484 as the amount received for each quarter. (Note: All disbursements will be in whole dollars with no cents.)
Direct Loan fees are subject to change as determined by the U.S. Department of Education. Additional information about direct loan fees is available at StudentAid.gov.
View your payment plan options.