VSAC Comparison Tool

The VSAC Comparison Tool helps users evaluate costs and financial aid awards for up to four schools.

To begin, gather cost information from various sources such as award letters, supplemental information, school publications, and websites. Once you have this data, enter the school names at the top of the worksheet. The cost of attendance for the academic year includes several components. You should input tuition, fees, room, and board into the billed cost section. Additionally, estimate other academic year costs, including transportation, which requires calculating the cost of round trips from home to campus based on the academic calendar.

For the award package, enter financial aid amounts from your award letter into the appropriate categories, which include grants, scholarships, work, and loans. Be aware that your Vermont Grant (VSAC Grant) may vary based on the school’s costs, so contacting VSAC for specific amounts is advisable. When entering loan amounts, multiply the Federal Stafford or Unsubsidized Federal Stafford Loan amounts by 96% to account for loan fees deducted before disbursement. It is important not to include Federal PLUS Loans or estimated amounts in the student loan section, as these are parent loans. If you have received private scholarships, ensure that you have notified the school and understand how these awards may affect your financial aid package.

When comparing awards, look at the percentage of total costs covered by grants, scholarships, work, loans, and family contributions for each school. Consider how much you will need to borrow in student loans and whether the work-study amounts included in your package are realistic based on the hours you can work. If necessary, adjust the work-study award to reflect your expected earnings. It’s crucial to compare how much of your expected billed costs are covered by financial aid versus what you will need to pay out-of-pocket.

The estimated family responsibility is calculated as the difference between your estimated costs and your financial aid awards. You should also estimate how you will meet the family contribution for your first year and subsequent years in your program. Remember that the yellow-shaded areas of the worksheet are calculated fields, helping streamline your analysis.

In the cost of attendance section, the worksheet prompts users to input various billed costs, which include tuition, required fees, and other possible fees such as lab fees, clinical course fees, athletics, health insurance, and additional costs. The total estimated billed costs will be calculated automatically. Other costs, such as books, supplies, computer costs, meals not covered by the meal plan, transportation, personal expenses, and entertainment, should also be estimated to arrive at a total estimated other costs figure. This will contribute to the overall total estimated costs.

For the award package, you will need to input details about grants and scholarships, including the Federal Pell Grant, FSEOG, VT State Grant (VSAC Grant), and various institutional and outside grants or scholarships. The total for grants and scholarships will be summed up in the worksheet. Additionally, you will enter amounts for work-study, including Federal Work-Study and other institutional work options, leading to a total work figure. Lastly, student loans need to be categorized, including Federal Stafford, Perkins, institutional loans, alternative loans, and any other loans that are not parent PLUS loans, culminating in a total student loans amount.