LoanMajor provides calculators to estimate student loans at graduation for undergraduate students. The College Search Calculator estimates student loan totals by using average prices from the National Center of Educational Statistics. The College Selection Calculator gives a more precise estimate of student loans by using a financial aid package after the student has been accepted.
College debt is over $1 trillion and default rates are very high for student borrowers. College costs have soared over the years, and there are many different types of student loans from federal to private with different interest rates and terms.
The financial aid process is very difficult for parents and students to understand, and often everyone is unaware of how much debt the student will have at graduation. LoanMajor has created tools to compare financial aid packages between schools and starting salaries for different majors before entering college. This allows both students and parents to have an idea of the amount of debt that the student will have at graduation.