Scholarship Value Calculator Formula
Understand the math behind the scholarship value calculator. Each variable explained with a worked example.
Formulas Used
Total Scholarship Value
total_value = annual_scholarship * yearsCost Coverage
coverage_pct = (annual_scholarship / annual_cost) * 100Remaining Annual Cost
remaining_annual = annual_cost - annual_scholarshipVariables
| Variable | Description | Default |
|---|---|---|
annual_scholarship | Annual Scholarship Amount ($) | 8000 |
years | Scholarship Duration (years) | 4 |
annual_cost | Annual College Cost ($) | 28000 |
How It Works
How to Calculate Scholarship Value
A scholarship's total value is its annual amount times the number of years awarded.
Formula
Total Value = Annual Scholarship x Years
Coverage = (Annual Scholarship / Annual Cost) x 100
Remember to account for GPA requirements and renewal conditions.
Worked Example
An $8,000/year scholarship for 4 years at a school costing $28,000/year.
annual_scholarship = 8000years = 4annual_cost = 28000
- 01Total value = $8,000 x 4 = $32,000
- 02Cost coverage = ($8,000 / $28,000) x 100 = 28.6%
- 03Remaining annual cost = $28,000 - $8,000 = $20,000
Ready to run the numbers?
Open Scholarship Value Calculator