Federal Loan Calculator
An important part of paying for your education through loans is knowing how much you need and being careful not to overborrow. Seton Hall will generally offer the maximum amount of federal loans for which you are eligible to be awarded.
The Federal Loan Calculator can do the following:
- Tell you how much you need to request in a subsidized, unsubsidized, or PLUS loan to receive your desired amount as well as cover any origination fees. (ex. If you need $10,000 in PLUS loan funding, you will need to request $10,441 to have exactly $10,000 be sent to the school)
- Tell you how much you will receive in the loan once origination fees are deducted (ex. if you have subsidized loan for $3500, the calculator can tell you that only $3464 will disburse after fees)
You should take origination fee rates into consideration when requesting your amount.
All amounts below are represented in U.S. dollars.
Origination Fee Rates
When you take out a federal student loan, you will be charged an origination fee by the U.S. Department of Education. This fee is a percentage of the total loan amount you are borrowing and is deducted proportionately from each disbursement of your loan.
Because this fee reduces the actual loan amount you will receive, you will need to take the origination fee into consideration when you request your loan amount.
Current loan origination fees for loans first disbursed on or after October 1, 2021 are:
| Direct Subsidized/Unsubsidized Loan | 1.057 percent |
| Direct PLUS Loan | 4.228 percent |
The specific loan fee that you are charged will be included in a disclosure statement sent to you after the first disbursement of your federal student loan.