Before you look at a single loan or payment plan, you need one number. Your funding gap is the exact amount you still need to cover after all your incoming aid is subtracted from your cost of attendance.
Now you have your number. Follow CAP's recommended borrowing steps below to cover your gap in the right order.
See the Borrowing Steps ↓If your gap needs to be covered through borrowing, follow these steps in order. The sequencing protects your credit score and ensures you compare the right options before committing.
Steps 02 and 03 use soft pulls — run both simultaneously with zero credit impact. Apply to Sallie Mae last after you've seen your soft-pull offers.
The funding gap formula is simple. The mistake most families make is using the wrong numbers — especially underestimating cost of attendance or leaving out resources they could deploy.
Not just tuition. Include housing, meals, books, supplies, and fees. Use your school's official cost of attendance page — not the sticker price.
Scholarships, grants, federal loans, 529 funds, family contributions, non-retirement savings earmarked for college, and any other confirmed funding.
What's left is your funding gap — the exact amount you need to cover through a private loan, payment plan, or additional resources.
Your funding gap tells you exactly how much — if anything — you need to cover. Here's where to go next.
A College Aid Pro advisor can model your exact scenario — comparing every loan option, payment plan, and resource — before the bill arrives.
