An important part of paying for your education through loans is knowing how much you need and being careful not to overborrow. Touro will generally suggest the maximum amount of federal loans for which you are eligible to be awarded.
The Student Loan Calculator tells you how much money you will receive from your student loan or help you to determine the amount you may need to accept. You should take origination fee rates into consideration when requesting your amount.
All amounts below are represented in U.S. dollars.
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, 2020
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.