Web-based Calculators Help Students and Families Learn about the Financial Realities of College
Des Moines, IA, July 7, 2008- Iowans planning for higher education now have more tools and resources available to help them plan, prepare and pay for college. The Iowa College Student Aid Commission’s library of online calculators provides students and families with practical tools they need to make informed decisions on how best to prepare and pay for college costs.
"Iowa College Aid is dedicated to providing Iowa students and families with tools to help them make the best decisions when planning, preparing and paying for college," said Karen Misjak, Executive Director of the Iowa College Student Aid Commission. "Our new online calculators are valuable resources complimenting all of the products and services available through Iowa College Aid to help Iowa students and families navigate the college planning and financial aid processes."
The calculators assist families at different stages of the planning process. "Families with young children will find the Cost of College and College Savings calculators invaluable as they determine how much they should save for their children’s future college costs," explained Misjak. "As students make decisions and plan for college in the fall, the Financial Aid Award Evaluator will help them compare college financial aid awards." Other calculators are available to help students budget while in college and prepare for student loan repayment after college.
The online calculators, which can be accessed from the Iowa College Aid website at http://calculators.iowacollegeaid.gov/co/ICSAC, include:
- Cost of College
- College Savings
- EFC (Expected Family Contribution)
- Financial Aid Award Evaluator
- College Loan Repayment
- Value of College
- College Expense Worksheet
- GPA (Grade Point Average)
- Borrower Benefits
- Loan Consolidation
- Loan Debt-to-Income Ratio
- Loan Capitalization
- Loan Prepayment
"One of the most important things we can do is provide tools and resources that help Iowa students and families prepare financially for college," stated Misjak. "Students and families will find our calculators to be extremely helpful as they plan a strategy to pay for college." The online calculators complement Iowa College Aid’s suite of products and services designed to help students succeed. More information on how to plan, prepare and pay for college is available on the Iowa College Aid website at www.IowaCollegeAid.gov.
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About the Iowa College Student Aid Commission (Iowa College Aid)
As the state’s designated guaranty agency for the Family Federal Education Loan Program (FFELP), Iowa College Aid guarantees more than $526 million annually in student loans from private lenders to support over 79,000 Iowa students. In addition, Iowa College Aid administers state scholarship, grant, and loan forgiveness programs, provides borrowers with assistance to avoid the serious consequences of default, conducts research and distributes higher education data, and offers Iowans assistance in obtaining student financial aid and college-related information. More information is available at www.IowaCollegeAid.gov.
Posted 07/08/08 to www.NASFAA.org. Posting of press releases is done as a service to Members and does not imply endorsement or support by NASFAA. NASFAA does not review this information for content or accuracy.
