How this calculation works
The Scholarship Calculator computes your net college attendance cost per year and across your entire degree after applying merit and need-based scholarship funding.
Mathematical formula and logic
Net Annual Cost = (Annual Tuition + Annual Room & Board) - Annual Scholarship. Total Degree Cost = Net Annual Cost × Degree Years.
Worked example
For $28,000 tuition + $12,000 room & board ($40,000 gross annual cost) with a $15,000 annual scholarship over 4 years: Net annual cost is $25,000, saving $60,000 total over the 4-year degree.
Calculation assumptions
- Scholarship is renewable for each academic year.
- Tuition inflation is not factored into base baseline calculations.
Frequently asked questions
What is the difference between a scholarship and a student loan?
Scholarships are gift aid that does not need to be repaid. Student loans must be paid back over time with interest.
Are college scholarships taxable?
In the US, scholarships used for tuition, fees, and required course books are generally tax-free. Amounts used for room and board may be considered taxable income by the IRS.
How does scholarship reduction affect financial aid?
Some colleges practice scholarship displacement, where outside private scholarships reduce institutional grant aid rather than loan portions. Check your college's outside scholarship policy.
What percentage of college tuition is covered by average scholarships?
On average, merit scholarships cover between 20% to 50% of annual tuition at private four-year universities.
Can international students receive US college scholarships?
Yes, many US universities offer institutional merit scholarships and need-based financial aid to qualified international applicants.