Updated · Built and checked by the PlinzoTools team, formulas tested against published sources
Calculate what percentage of your total college cost a scholarship covers.
This tool calculates (scholarship amount ÷ total cost) × 100 to show what percentage of your total college cost a scholarship covers, along with the dollar amount still remaining.
Enter your scholarship amount and total cost of attendance. The coverage percentage and remaining cost appear instantly.
You get two values. The first is the scholarship amount divided by the total cost, multiplied by 100 and shown to one decimal place. The second is the remaining cost, which is the total cost minus the scholarship, never allowed to go below zero. If the total cost is zero, the percentage shows as zero. The percentage is not capped at 100, so a scholarship larger than the cost would display a figure above 100 percent while the remaining cost shows zero.
Percent covered = scholarship / total cost x 100. Remaining = max(0, total cost - scholarship).
Suppose a scholarship is $10,000 against a total cost of attendance of $40,000. The percentage covered is 25.0 percent and $30,000 remains. Now consider a student who has two awards: $6,000 from the school and $2,500 from an outside organization. Add them for a total of $8,500 before entering the amount. Against a $34,000 cost, that covers 25.0 percent and leaves $25,500. Finally, imagine a full-tuition award of $18,000 where the cost of attendance is $42,000. The award covers about 42.9 percent, which is quite different from what the word full-tuition suggests, because tuition is only one part of the cost of attending.
The result depends heavily on what you count as the total cost. A school's cost of attendance often includes tuition, fees, housing, food, books, transportation and personal expenses. Using tuition alone will produce a higher percentage than using the full cost of attendance, and the two answer different questions. Decide which question you have before entering numbers: a percentage of tuition tells you how much of the bill sent by the school is covered, while a percentage of cost of attendance tells you how much of your total college living and learning expenses are covered. Whichever you choose, keep it consistent when comparing several offers so that the percentages line up fairly.
Some scholarships are renewable only if you meet requirements such as a minimum GPA or credit load, and some are one-time awards. The tool treats the numbers you enter as a single snapshot, so if your award is yearly, use the yearly cost, and if it is a one-time total, compare it with the multi-year cost. Another mistake is leaving out costs that will really fall on you, such as travel or supplies. Also note that some scholarships can affect other aid, and some may have tax implications depending on how the funds are used. For details, check the award letter, ask the financial aid office, or consult IRS.gov or a tax professional.
Yes -- add all your scholarship/grant amounts together before entering them as a single total scholarship figure.
Yes, the percentage is not capped, so an award larger than the cost you entered will show more than 100 percent. The remaining cost will be shown as zero in that case.
Either works, but they answer different questions. Tuition gives the share of the school bill covered, while cost of attendance includes living costs. Use the same figure when comparing offers.
They should not. Loans must be repaid, so including them would overstate how much of your cost is covered by free money.
Whichever you enter, match it with the same period for the cost. Use yearly award with yearly cost, or the total award with the total cost of the whole program.
Reference: Consumer Financial Protection Bureau