Note: Hopkins recently announced exciting changes to our financial aid program. The MyinTuition Quick College Cost Estimator and Net Price Calculator will be updated as soon as possible to reflect our enhanced financial aid packages, which do not include student loans.
Understanding net price
Net price is the amount a family is responsible for after grant and scholarship aid is subtracted from the total cost in a given year. At Hopkins, this amount includes the family contribution and work study.
Your family contribution is calculated annually by our staff, using information reported on the aid application. Both parents and students are expected to contribute to educational costs to the extent they are able to do so. We subtract your family contribution from the total cost of education for the academic year, and the result is your aid eligibility, or demonstrated need.
MyinTuition Quick College Cost Estimator
This calculator asks six basic financial questions to provide you with a quick estimate of college costs, and works best for families with less complex financial situations.
Many families use a combination of current income, savings, monthly payments, and long-term borrowing to provide for educational expenses. We are here to help support you and your family as you learn about eligibility for financial aid and explore payment options.
Factors that determine parent contribution include both taxed and untaxed income, income taxes paid, number of family members, number of siblings in undergraduate school, and asset strength (i.e., value of savings, investments, business, and real estate). JHU follows the basic federal needs analysis formula for all federal aid but makes adjustments to that formula when determining eligibility for JHU grant assistance. Adjustments to the formulas may be made on a case-by-case basis to reflect more accurately your family’s financial strength. Examples of these institutional adjustments are calculating an allowance for high medical or secondary school expenses, evaluating depreciation and business losses, generally disallowing siblings in graduate school, and including home equity in the formula.
We assume that students will work during the summer and utilize savings to help pay some of their school expenses.
JHU expects most students to contribute a minimum of $1,800 (for new students) and $2,600 (for returning students) from summer employment. Students are also expected to contribute from their savings and investments. In general, 20 percent of student assets are expected to be available for college costs each year.
Your aid package
Once your eligibility for aid has been established, JHU offers a financial aid “package,” which may consist of different types of aid from various sources.
Families who qualify for need-based aid will be offered a combination of grants and work. Beginning in spring 2019, student loans will no longer be included in need-based financial aid packages. Grant assistance may include a Johns Hopkins University Grant, Federal Pell Grant, Federal Supplemental Educational Opportunity Grant (FSEOG), and state and private scholarships.