Federal Loan Calculator
Most federal student loans have fees associated with them. These fees are withheld from the amount borrowed before the funds are sent to LECOM to pay your tuition bill. When determining how much to accept in federal loans, many students forget to account for the loan fees.
This federal loan calculator will tell you how much you will receive after fees are deducted. This calculation will help you determine the amount you need to accept in order to cover your bill and possibly plan for living expenses.
This calculator is used for estimation purposes only. Your final amount will be determined during the financial aid process.
Please note that the federal loan fees are determined by the U.S. Department of Education and they are deducted before LECOM receives your loan funds. The current loan fees are as follows:
|Loan Type||First Disbursement Date||Loan Fee|
|Stafford||On or after 10/1/2020 and before 10/1/22||1.057%|
|Direct PLUS||On or after 10/1/2020 and before 10/1/22||4.228%|
Visit the Federal Student Aid Website for more information.