Financial aid offer comparison worksheet

Purpose, who it is for and how to use it

Purpose: compare offers on the same footing, keeping gift aid, loans and work-study in separate places so debt is never counted as a discount.

Who it is for: students and families comparing college offers, for any college in the United States. California state aid lines are labeled.

How to use it:

Gather each college's offer letter and its published cost of attendance (often on the financial aid web page). If an offer is hard to read, ask the college for a College Financing Plan or a written list of every cost and aid item.
Fill in Part A with the full cost for one year. Use the same lines for every college.
Fill in Part B with gift aid only.
Work out the net cost in Part C.
List loans, work-study and Parent PLUS loans in Part D. They are ways to pay the net cost, not discounts.
Use Parts E to G for renewal, the health plan and your questions.

Compare college financial aid offers using net cost, not sticker price explains each step. Write in pencil. Do not write Social Security numbers, account numbers, student ID numbers or health details on this page.

Part A: Cost of attendance for one year

Write whole dollars. If a college's offer leaves a line out, copy it from the college's published cost of attendance and mark it P. If you have to estimate it yourself, mark it E.

Line	Cost	College 1: ______	College 2: ______	College 3: ______	College 4: ______
A1	Tuition and fees
A2	Housing and food (on campus, off campus or at home)
A3	Books, course materials, supplies and equipment
A4	Transportation
A5	Personal expenses
A6	Student health plan charge (write 0 if none or already in A1)
A7	Other costs listed (dependent care, program fees, loan fees)
A8	Cost of attendance (A1 + A2 + A3 + A4 + A5 + A6 + A7)

Part B: Gift aid only (grants and scholarships you do not repay)

Line	Gift aid	College 1	College 2	College 3	College 4
B1	Federal grants
B2	State grants (in California: Cal Grant, Middle Class Scholarship, Chafee Grant)
B3	College grants
B4	Scholarships from the college
B5	Outside scholarships you have been awarded
B6	Total gift aid (B1 + B2 + B3 + B4 + B5)

Do not put loans, work-study or Parent PLUS loans in Part B.

Part C: Net cost

Line	Calculation	College 1	College 2	College 3	College 4
C1	Net cost for one year (A8 − B6)
C2	Rank, lowest net cost = 1

Formula: net cost (dollars per year) = cost of attendance (A8) − total gift aid (B6). Round each line to whole dollars before adding.

If C1 is zero or below, gift aid covers the full cost of attendance. Ask the aid office how that affects any loans or work-study in the offer.

Part D: Ways to pay the net cost (not discounts)

Line	Item	College 1	College 2	College 3	College 4
D1	Federal Direct Subsidized and Unsubsidized Loans offered to the student
D2	Work-study (the most the student may earn by working)
D3	Parent PLUS loan listed (the parent's debt)
D4	Private or other loans suggested
D5	Savings, income and the student's own job you plan to use
D6	Still to cover (C1 − D1 − D2 − D3 − D4 − D5)

For federal loans first disbursed from July 1, 2026, through June 30, 2027, fixed rates are 6.52% for undergraduate Direct Loans and 9.07% for Parent PLUS loans. Since July 1, 2026, Parent PLUS borrowing is capped at $20,000 a year and $65,000 in total for each dependent student; students already enrolled with a federal loan by June 30, 2026, may keep the older limits for a time. Loan fees are 1.057% for Direct Subsidized and Unsubsidized Loans and 4.228% for PLUS loans first disbursed before October 1, 2027.

Part E: Renewal and next year

Line	Question	College 1	College 2	College 3	College 4
E1	Gift aid that is for the first year only (dollars)
E2	Conditions to keep the rest (GPA, units, income limits, major)
E3	Expected rise in tuition and housing next year, if the college says
E4	Next year's net cost if E1 ends and costs stay the same (C1 + E1)
E5	Is the state aid shown final or an estimate?

Part F: The health plan

Line	Question	College 1	College 2	College 3	College 4
F1	Can the student plan be waived with other coverage? (yes / no)
F2	Waiver deadline
F3	Would the student's current plan (for example, a parent's plan) cover care near this college?
F4	Net cost if the plan is waived (C1 − A6, only if F1 is yes)
F5	For health and clinical programs: background checks, immunizations, clinical fees, uniforms, equipment. Are they in the cost of attendance?

Part G: Questions for each financial aid office

Does this offer include every cost line in Part A? If not, what are the missing amounts?
Which aid is a grant or scholarship, and which is a loan or work-study?
How does each grant and scholarship renew, and what happens if the student drops below full time?
Is any state aid shown an estimate?
Can the student health plan be waived, and by when?
Our family's situation has changed (for example, a job loss, medical costs or another family member in college). How do we ask for a special-circumstances review?
What is the deadline to accept, and to accept or decline each loan?

Worked examples (fictional)

These use the fictional figures from the guide. Each is one year.

College 1: A8 = $14,200 + $18,900 + $1,300 + $1,200 + $2,100 + $2,900 = $40,600. B6 = $21,000. C1 = $40,600 − $21,000 = $19,600. If the health plan is waived: $19,600 − $2,900 = $16,700.
College 3: A8 = $8,000 + $7,500 + $1,300 + $2,600 + $2,200 + $0 = $21,600. B6 = $7,500. C1 = $14,100. With $5,500 in federal loans and no work-study, D6 before savings and income = $14,100 − $5,500 = $8,600.
College 4: A8 = $48,000 + $17,000 + $1,200 + $900 + $2,000 + $2,600 = $71,700. B6 = $35,000, including a $5,000 first-year-only scholarship. C1 = $36,700. E4 = $36,700 + $5,000 = $41,700.

Limitations

This is a planning aid, not an offer or a guarantee of aid. Each college decides its own aid; in California, the California Student Aid Commission decides state aid.
Costs of attendance are college estimates. Actual spending on housing, food, travel and personal items can differ.
One year at a time. Costs, aid and loan rules can change from year to year.
It does not estimate loan payments, taxes or eligibility for any program.
It is not financial, tax or legal advice.

Sources

2026–2027 Federal Student Aid Handbook, Volume 3, Chapter 2: Cost of Attendance (Budget) — U.S. Department of Education, Federal Student Aid, accessed October 26, 2026.
(GENERAL-26-33) Interest Rates for Federal Direct Loans First Disbursed Between July 1, 2026 and June 30, 2027 — U.S. Department of Education, Federal Student Aid, June 4, 2026.
Student loan borrowers: important student loan changes effective July 1 — California Department of Financial Protection and Innovation, accessed October 26, 2026.
2026–2027 Federal Student Aid Handbook, Volume 6, Chapter 2: The Federal Work-Study Program — U.S. Department of Education, Federal Student Aid, accessed October 26, 2026.
2026–2027 Application and Verification Guide, Chapter 5: Special Cases — U.S. Department of Education, Federal Student Aid, accessed October 26, 2026.
College Financing Plan — U.S. Department of Education, accessed October 26, 2026.
How to Apply for Financial Aid — California Student Aid Commission, accessed October 26, 2026.
Young Adult Coverage — U.S. Department of Health and Human Services, accessed October 26, 2026.
Public Law 119-21 (July 4, 2025), section 81001: loan limits for graduate and professional students and parent borrowers — U.S. Government Publishing Office, accessed October 26, 2026.
(GENERAL-26-28) FY27 Sequester-Required Changes to the Title IV Student Aid Programs — U.S. Department of Education, Federal Student Aid, May 13, 2026 (Direct Loan fees).