There is no doubt college can be expensive. That is why a key feature of the Indiana College Costs Estimator (ICCE) site is designed to help you better understand what kind of financial aid you may be eligible to receive and how financial aid can affect your actual cost of attending college. (Very few people pay "sticker price" to attend college!)
To receive an estimate of your Expected Family Contribution (EFC) as well as estimates of financial aid at Indiana colleges and universities, you will need to complete five screens of information. The more fully and accurately you complete each screen, the more accurate the EFC estimate and the estimates of net cost for a chosen institution. Once you fill out the information, you will be able to see how your financial situation is calculated under the Federal Methodology and how that calculation influences financial aid packages from various Indiana institutions. You can also:
- Conduct side-by-side comparisons of packaging estimates at Indiana colleges (up to three at a time)
- Create "what-if" scenarios to see how the results can change as your circumstances change (financial, academic, etc.)
Gathering Your Information
The ICCE has been designed to be as quick and easy as possible and is estimated to take most users approximately 15 minutes. In order to expedite the completion of the Indiana College Costs Estimator, it is wise to have the following information handy before starting:
- Parent and student tax forms (1040EZ, 1040A or 1040) and/or W-2s
- Parent and student untaxed income information
- Parent and student asset information
- Parent business and/or farm records, if applicable
*Because actual federal, state, and institutional financial aid is based on the forms and information listed above, it is important you provide the same information in order to produce accurate estimates.
Storing Your Information
Registered users of the Indiana College Costs Estimator site can store and retrieve the data entered into this tool. By quickly creating a username and password, you will have the option to:
- Come back to the tool at any time to update your information
- Run "what-if" scenarios
- Conduct more side-by-side college comparisons
- Sign up to receive important messages, newsletters and other communications related to financial aid and college planning