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Net Price Calculator in the News
NPCs Help Students Avoid Unnecessary Debt
Net Price Calculators Can Help Students Understand Aid Eligibility and Avoid Unnecessary Debt
Sacramento, CA – September 13, 2010 – As federal policymakers increasingly are focused on the rising tide of student loan defaults, dozens of public and private colleges across the country have already moved to provide students with high-tech estimation of the cost of college, information that could help those students avoid over-borrowing to pay education costs.
The recession has ensnared more borrowers causing them to default on college loans in greater numbers, according to the U.S. Department of Education, which today announced that the FY 2008 national cohort default rate has climbed to 7 percent. However, some colleges are helping prospective students avoid deep debt by implementing custom net price calculators that accurately estimate eligibility for financial aid, which reduces the need for loans.
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