Nitro Introduces Student Loan Affordability Calculator

  • By Staff
  • 04/06/17

Image Credit: Nitro.

While FAFSA’s IRS Data Retrieval Tool — used by millions of students each year to apply for federal financial aid — is temporarily out of commission, another online tool could be of use for students and parents planning their finances for college. A no-cost calculator from Nitro taps into actual college cost data to inform students of their ability to repay student loans.

The NitroScore online calculator ranks college and major choices based on a student’s predicted ability to repay student loans after graduation. Families can compare schools, financial aid offers and majors to find an affordable option. And it’s straightforward: The lower the “NitroScore,” the more challenging it will be to pay back those student loans.

For example: An in-state student who receives a $5,000 scholarship from the West Virginia University will have a NitroScore of 578 for accounting and 691 for computer science. So, if they choose accounting, 21 percent of their post-grad income will be used to pay back debt, compared to 14 percent for computer science.

According to a NitroScore statement, the tool is “fueled by advanced analytics, proprietary data and individual consumer preferences,” as well as information from the National Center for Education Statistics and PayScale, an online salary, benefits and compensation company. Users can look at college costs for 4,138 higher education institutions in the United States, including data on tuition, room and board, supplies and other college expenses. They can also view salary data based on a PayScale survey of 1.4 million college graduates comprising 336 majors at four-year colleges and 140 two-year college majors.

Featured

  • digital learning resources including a document, video tutorial, quiz checklist, pie chart, and AI cloud icon

    Quizizz Rebrands as Wayground, Announces New AI Features

    Learning platform Quizizz has become Wayground, in a rebranding meant to reflect "the platform's evolution from a quiz tool into a more versatile supplemental learning platform that's supported by AI," according to a news announcement.

  • red brick school building with a large yellow "AI" sign above its main entrance

    New National Academy for AI Instruction to Provide Free AI Training for Educators

    In an effort to "transform how artificial intelligence is taught and integrated into classrooms across the United States," the American Federation of Teachers (AFT), in partnership with Microsoft, OpenAI, Anthropic, and the United Federation of Teachers, is launching the National Academy for AI Instruction, a $23 million initiative that will provide access to free AI training and curriculum for all AFT members, beginning with K-12 educators.

  • stylized illustration of a desktop, laptop, tablet, and smartphone all displaying an orange AI icon

    Survey: AI Shifting from Cloud to PCs

    A recent Intel-commissioned report identifies a significant shift in AI adoption, moving away from the cloud and closer to the user. Businesses are increasingly turning to the specialized hardware of AI PCs, the survey found, recognizing their potential not just for productivity gains, but for revolutionizing IT efficiency, fortifying data security, and delivering a compelling return on investment by bringing AI capabilities directly to the edge.

  • Abstract AI circuit board pattern

    Nonprofit LawZero to Work Toward Safer, Truthful AI

    Turing Award-winning AI researcher Yoshua Bengio has launched LawZero, a nonprofit aimed at developing AI systems that prioritize safety and truthfulness over autonomy.