The Aid Letter Decoder

Your one-stop-shop financial aid & scholarship tool - to help you figure out college affordability.

Aid Letter Decoder: Calculate Your College Net Price

The Aid Letter Decoder

Enter the amounts from the school’s Cost of Attendance and your award letter. Then click Decode My Award Letter to reveal your estimated net price and what parts require repayment or earned wages.

1) Cost of Attendance (COA)

Direct costs

Tuition

Fees

Residence hall / Housing

Meal plan / Board

Indirect costs ?

Travel expenses

Personal expenses

Books & supplies

Other (optional)

2) Financial Aid & Scholarships

Total grants & scholarships

Federal direct student loans ?

Campus job / Work-study ?

Summer earnings expectation ?

Not gift aid. This is an expectation that the student will earn money before the academic year.

Other loans ?

Results

Direct costs total
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Indirect costs total
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Total cost of attendance
COA
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Minus grants & scholarships
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Family’s net price (estimated)
COA − Grants & Scholarships
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Estimated net price if optional loans are used
(COA − Grants & Scholarships) − Optional Loans
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Tip: Loans, work-study, and summer earnings expectations may appear in the “award,” but they work differently than grants. Grants & scholarships reduce cost. Loans must be repaid, and work-related amounts depend on the student earning wages.

Important: This tool provides an estimate for planning. Always rely on the school’s official billing statements and policies for exact due dates and charges.

Privacy note: AskDrHoffman.com LLC does not capture or save any figures in this tool. Your privacy is important to me.

Next Step: How to Cover the Remaining Cost

Based on your entries, here are common ways families plan for the remaining balance. This section appears only when the estimated remaining cost is at least $1,000.

Your estimated remaining cost to cover

After optional loans + expected earnings

Remaining cost to cover (estimated)

(Net after optional loans) − Work-study

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Work-study is earned during the year and summer earnings are earned before the academic year. Both require the student to secure work. Treat these as planning estimates, not guaranteed reductions on the bill.

1) Outside scholarships

Outside scholarships can come from foundations, companies, or community organizations (for example: a local Kiwanis Club, a corporate scholarship, or a national foundation).

No Yes

2) Payment plan estimate (if offered)

Some colleges offer monthly payment plans (often with a fee). Confirm whether a plan is available and what costs it can cover.

Months (default 9)

We’ll divide the remaining amount by this number of months.

Possible monthly payment (estimate)

If a payment plan is offered

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3) Federal loan room check

Borrowing is optional and must be repaid. This check is based on what you entered in the Decoder.

Plan summary

Starting remaining estimate
(Net after loans) − Work-study
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Outside scholarships applied
Annual total
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Updated remaining to cover
After outside scholarships
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Estimated monthly payment
÷ 9 months (if offered)
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Possible additional federal direct loan room
Up to first-year limit
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Tip: If your remaining balance feels high, compare offers across schools, confirm what’s actually billed vs. indirect costs, and review your aid letter carefully.

This planning section is an estimate, based on the values you entered. Payment plan availability and outside scholarship policies vary by college.

Work-Study Hours Estimator

Work-study is earned over time. Use this tool to estimate how many hours per week a student would need to work to reach a target amount during the academic year.

Inputs

Copies the “Campus job / Work-study” amount from The Aid Letter Decoder into this calculator.

Annual work-study amount

Campus minimum wage ($/hour) ?

Tip: colleges usually list this on their Student Employment or Financial Aid website.

Weeks worked (default 28)

Estimate take-home pay (optional)

Deductions vary. Some student jobs may be exempt from Social Security/Medicare (FICA) while enrolled, and withholding depends on the student’s W-4 and state rules. Use this as a planning estimate only.

These calculations are estimates. Actual hours can vary based on hiring timelines, scheduling limits, taxes/withholding, and how quickly the student secures a position.

Want personalized guidance?

Book a private session to review your award letter(s), compare offers, and build a plan for what your family will actually pay.

Book a Private Session

Bring your award letter(s) and questions—leave with a clear plan.