Financial Aid Calculator

Financial aid eligibility is based on a student's financial need, which is the difference between the college's Cost of Attendance (COA) and the student's Student Aid Index (SAI).

  • The COA is based on tuition, fees, room, board, books, supplies, equipment, transportation to/from college and miscellaneous expenses.
  • The SAI is based on the student and parent income and assets, family size, and other demographic factors.

This federal SAI is calculated based on the information reported on the Free Application for Federal Student Aid (FAFSA). Most colleges use the federal SAI for awarding their own financial aid funds in addition to government aid. Fewer than 200 colleges use a supplemental form called the CSS PROFILE to calculate an institutional version of this measure to award aid granted by the school itself.

This calculator lets you estimate your child's SAI before you complete the FAFSA by answering a subset of the questions on the FAFSA. In most cases, a student with a lower SAI or higher COA will qualify for more financial aid. You can use the calculator to evaluate the impact of changes in income and assets on eligibility for need-based financial aid.

This calculator estimates SAI using the rules in place for the 2024-2025 school year, using a simplified version of the federal SAI formula.


Are you married?
What is your annual adjusted gross income (AGI)?
What is your spouse's annual AGI?
What is your child's annual AGI?
How much do you have in non-retirement bank and investment accounts (excluding 529 plans and Coverdell ESAs)?
How much does your child have in non-retirement bank and investment accounts (including UGMA/UTMA and trusts, but excluding 529 plans and Coverdell ESAs)?
How much do you, your spouse, and your child have in 529 plans and Coverdell ESAs?
How many members will you have in your household when your child enrolled in college (including that child)?

This calculator is for hypothetical use only and depends on the information you provide. You should be sure that the information provided is realistic and as close to your specific situation as possible. The calculations rely on a number of simplifying assumptions, and the results may vary from your actual situation. Information provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed.

Your use of this tool is at your own risk and the information displayed by the tool does not represent an investment recommendation or legal or tax advice. The information is presented on an "As Is" basis and and Voya take no responsibility for its accuracy or completeness. The information presented may be out-of-date or summarized incorrectly. Before making any investment decision you should thoroughly read and understand the current official program disclosure provided by the 529 plan and consult with your professional legal, tax, and investment advisers.

The IAdvisor 529 Plan is offered by the Iowa Educational Savings Plan Trust, a trust organized under Iowa law and administered by the Iowa State Treasurer's Office. The Treasurer of the State of Iowa is responsible for overseeing the administration of the IAdvisor 529 Plan. Voya Investment Management (Voya IM) provides investment management and administrative services for the IAdvisor 529 Plan. Shares in the program are distributed by Voya Investments Distributor, LLC, Member FINRA/SIPC. This web site is accompanied by a current program description for the IAdvisor 529 Plan.

The Options in the IAdvisor 529 Plan are not mutual funds, although they invest in mutual funds. An investment in the IAdvisor 529 Plan is an investment in municipal securities and the value of the Options will vary depending on the value of the underlying funds in which the Options invest. Investment returns are not guaranteed and you could lose money by investing in the IAdvisor 529 Plan.

These securities are not registered with the U.S. Securities and Exchange Commission (“SEC”) or any state, nor is the IAdvisor 529 Plan or any of the IAdvisor 529 Plan Options registered as an investment company with the SEC or any state.

If you are not an Iowa taxpayer, consider before investing whether your or the beneficiary's home state offers a 529 plan with favorable state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that may only be available through investments in that state's 529 plan and which are not available through investment in the IAdvisor 529 Plan.

Non-qualified withdrawals may be subject to federal and state taxes and an additional federal 10% tax.

The tax information herein is not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding tax penalties. Taxpayers should seek advice based on their own particular circumstances from an independent tax advisor.

Voya Investment Management does not control or endorse and is not responsible for third-party Web sites to which this site links.

Voya Investment Management is not an underwriter for any underlying municipal securities

An investor should consider the investment objectives, risks, charges and expenses associated with the IAdvisor 529 Plan before investing. More information about the IAdvisor 529 Plan is available in the Program Description. You may download a Program Description or request one by calling 800-774-5127. The Program Description should be read carefully before investing.

Voya Investments Distributor, LLC, the distributor of the Iowa advisor-sold 529 plans, is registered with the U.S. Securities and Exchange Commission and the Municipal Securities Rulemaking Board (“MSRB”). The website address for the Municipal Securities Rulemaking Board is; The MSRB website includes an investor brochure which describes: (i) the protections that may be provided by the Municipal Securities Rulemaking Board rules; and (ii) how to file a complaint with an appropriate regulatory authority.


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