Net Price Calculator in the News

Colleges Adopt Net Price Calculators to Attract Students Worried About Affordability

42 Institutions Outsource Calculator Development to Gain Competitive Edge

SACRAMENTO, CA - May 26, 2010 - Private and public colleges and universities across the country are beginning to adopt net price calculators (NPC) as a way of communicating affordability to prospective students and families. With admissions for the upcoming academic year largely complete, the demand for NPCs is expected to accelerate this summer to meet the October 2011 deadline for all Title IV institutions to provide an NPC on their Web sites.

Prospective students often confuse college sticker prices with the cost they will pay. However, 70 percent of first-year students receive aid that reduces their out-of-pocket costs, and more students are receiving higher amounts of grants, according to the latest survey by the Higher Education Research Institute. Independent colleges, for example, are providing more aid than ever with the average institutional award covering more than half of tuition and fees, according to the National Association of College and University Business Officers. Overall, 75 percent of all college students, including a growing number from upper-income families, now seek aid to pay for their undergraduate education, reports the U.S. Department of Education.

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